3.00 Credits
The purpose of this course is to introduce the mathematical theory behind the concepts of: measurement of interest, annuities, yield rates, amortization of loans, sinking funds, and yield rates. Understanding the fundamental concepts of financial mathematics, and how these concepts can be applied to calculate present and future values of various financial instruments, is the prevailing theme of the course.
Prerequisite:
MAT 371 requires a prerequisite of C or better in MAT 162.