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MATH 320. Mathematical Interest Theory. 4 Units.

Prerequisites: MATH 213 and 241
Offered: Spring
Development of the mathematical theory of interest in both finite and continuous time, including the accumulation function and special cases of simple and compound interest, valuation of the discrete and continuous streams of payments, and nominal and effective interest and discount rates. Application of the theory, with computer applications, to actuarial science, including amortization of lump sums, fixed income securities, and depreciation.