By J. Robert Buchanan

This textbook presents an advent to monetary arithmetic and fiscal engineering for undergraduate scholars who've accomplished a 3- or four-semester series of calculus courses.

It introduces the speculation of curiosity, discrete and non-stop random variables and chance, stochastic tactics, linear programming, the basic Theorem of Finance, choice pricing, hedging, and portfolio optimization. The reader progresses from an effective grounding in multi-variable calculus via a derivation of the Black–Scholes equation, its answer, homes, and applications.

Contents:

• The conception of Interest
• Discrete Probability
• Normal Random Variables and Probability
• The Arbitrage Theorem
• Random Walks and Brownian Motion
• Forwards and Futures
• Options
• Solution of the Black–Scholes Equation
• Derivatives of Black–Scholes choice Prices
• Hedging
• Optimizing Portfolios
• American Options

Readership: Undergraduate scholars in economics, finance and utilized arithmetic; pros in banking, coverage and finance.

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Additional resources for An Undergraduate Introduction to Financial Mathematics

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