MATHEMATICS OF FINANCE
Carl W. McCoomb.
Volume 11 Number 6.
This is a text that studies various applications of interest in financial transactions. Simple interest is touched on, but the thrust of the book is aimed at its more sophisticated sibling, compound interest. The mathematics that convert a relatively humble purchase price into a more considerable sum when repaid by instalments is clearly explained as part of a broader range of transactions. The text works carefully through each topic, beginning with simple explanations and proceeding to difficult examples in easy stages. An excellent and possibly unique feature of the text is that three methods of solution are given; BASIC programming language, financial calculator, and non-financial calculator. The disadvantages of the last of these three becomes apparent as the more complex problems are encountered.
The text is straightforward and sequential and should present few difficulties for students prepared to work with care and diligence. The printing is clear, and the general layout, admirable. There is an index, although there may be little need to refer to it when the book is used as a course primer. On the basis that practice makes perfect, additional exercises might have been useful, although these can be provided by teachers. As the electronic invasion of the classroom proceeds, this text should be useful for computer and business machines courses at the secondary school level, while being of obvious value to relevant courses at the post-secondary level.
John D. Crawford, Frank Hobbs E. S., Victoria, BC.
1971-1979 | 1980-1985 | 1986-1990 | 1991-1995
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