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What you'll be able to do (official learning outcomes)
explain in details the use of cash flow models, simple and compound rates of interest and discount
distinguish between nominal and effective rates of interest and discount
identify various types of annuities and perpetuities used to solve financial transaction problems
apply prospective and retrospective methods to determine the outstanding loans
acquire good skills that will enable them derive equations that can yield values for linear interpolation and annuity tables
demonstrate competence in using amortization and sinking fund methods to defray debts
Course contents
Time value of money. Time preference. Productivity of capital. Uncertain future. Level of interest rates. Actuary’s relationship to the Time Value of money. Measurement of interest. Mathematical theory and practical problems in compound and simple interest. Solution of problems in interest. Obtaining numerical results. Basic problems.
Source: the Nigerian Universities Commission (NUC) Core Curriculum and Minimum Academic Standards (CCMAS). StudyOps loads this syllabus automatically when you study ACS 304.