Financial Mathematics for Actuaries

This is an introductory textbook on the mathematics of interest rates for actuarial science students. It is written at a level of rigor that is required for students majoring in actuarial science and prepares them for further analysis of financial instruments. It emphasizes an intuitive treatment of the mathematics of finance and insurance, with special attention to applications.
Each chapter contains many examples illustrating the applications of mathematical analysis to financial products and personal financial management.
The authors use the financial functions in Excel as the computational tool in this book, which are illustrated through numerous examples.