Abstract
There are many situations in every day life when we come across the concept of interest. For example, when someone makes a deposit in a bank account, the money will earn interest. Money can also be borrowed from a bank, which has to be repaid later on with interest. Many car buyers who cannot afford paying the price in cash will pay monthly installments whose sum is usually higher than the original price of the car. This is due to the interest which has been added to the price of the car.
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© 2002 Springer Science+Business Media Dordrecht
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Gupta, A.K., Varga, T. (2002). Financial Mathematics. In: An Introduction to Actuarial Mathematics. Mathematical Modelling: Theory and Applications, vol 14. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-0711-4_1
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DOI: https://doi.org/10.1007/978-94-017-0711-4_1
Publisher Name: Springer, Dordrecht
Print ISBN: 978-90-481-5949-9
Online ISBN: 978-94-017-0711-4
eBook Packages: Springer Book Archive