The Mathematics of Personal Finance: A Complete Reference
- ISBN13: 9781583483787
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Product Description
We live in an increasingly complex financial world where we must make personal financial decisions almost daily. Our financial well being depends on it. But where do you look for information to develop the ability to make and monitor your financial decisions? Financial mathematics and its applications are not taught in public schools or even colleges except to business finance and accounting majors. The Mathematics of Personal Finance fills that gap. It is a comple… More >>
This helped me understand interest rate and how to analyze my personal finances and those of my small business.
Rating: 5 / 5
This helped me understand interest rate and how to analyze my personal finances and those of my small business.
Rating: 5 / 5
Very thorough explanation of the mathematics of personal finance, for those who can tolerate algebra.
It has a chapter on annuities with an excellent illustration of the mathematics and taxation of annuties. The author commits one error in that he does not correctly define an ordinary annuity and an annuity due. But one can find those definitions on the internet. If you need to understand the mathematics of mortgages and annuities, this is a worthwhile purchase.
Rating: 4 / 5
This book presents a very good basic and detailed understanding of the time value of money mathematics and also shows how to apply the principles to most real life financial applications that one is likely to experience.
To me it was an eye opener to see how financial math can be used to analyze most financial functions such as home mortgages, insurance policies, mutual fund rates of return, and consumer loans, as an aid in making important and informed financial decisions.
The book is easy to understand and there are many examples to demonstrate the applications. Also it is a good book for self teaching with many examples to work with answers provided to check results.
However, it is necessary to understand basic algebra and to have the ability to follow the examples that are quite comprehensive. The author shows how to use a Hewlett-Packard 12C financial calculator to perform the math. For those who can do this it will be quite rewarding. For example there is a method shown on how to easily save a significant amount of interest on one’s home mortgage as well as check the progress of a variable interest rate loan if you have one. The book must be studied and the problems worked to get the full benefit. It cannot be read like a novel.
Rating: 5 / 5