Foundations and applications of the time value of money:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, NJ
Wiley
2009
|
| Series: | The Frank J. Fabozzi series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Item Description: | Includes index. |
| Physical Description: | XVII, 298 S. graph. Darst. |
| ISBN: | 9780470407363 |
Staff View
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Record in the Search Index
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| adam_text | Titel: Foundations and applications of the time value of money
Autor: Drake, Pamela Peterson
Jahr: 2009
Contents
Preface ix
About the Authors xi
Introduction m
The Basics of the rime Vatoe of Money 1
CHAPTBH
Tlra Value of Compounding 3
Compounding 7
Calculator and Spreadsheet Solutions 11
Frequency of Compounding 14
Summary 20
Try It Solutions 21
Problems 22
CHAPTK2
Don t Discount Discounting 23
Discounting 23
Discounting More Than One Future Value 31
Determining the Number of Compounding Periods 35
Summary 38
Try It Solutions 38
Problems 39
CHAPTB3
Cash Happens 41
Valuing a Stream of Future Cash Flows 42
Valuing a Perpetuity 51
Annuities 54
Vi CONTENTS
Summary 61
Try It Solutions 62
Problems 62
CHAPTER 4
Yielding for Yields 65
Annualized Rates of Interest 65
Determining the Unknown Interest Rate 77
Rules 88
Summary 89
Try It Solutions 90
Problems 90
PART TWO
A Few Applications 93
CHAPTER 5
Loans 95
Loan Amortization 95
Interest Rates on Loans 104
Determining the Number of Periods 108
Variations on the Theme 109
Summary 114
Try It Solutions 114
Problems 115
CHAPTER G
Saving to Spend 119
Valuing a Deferred Annuity 119
Annuities with Annuities 126
A Bit of Realism 135
Summary 138
Try It Solutions 139
Problems 139
CHAPTER 7
ied to Bonds 141
Bond Basics 142
Calculating the Yield to Maturity 154
Issues 157
Contents___________________________________________________________________Vlj
Interest Rates 163
Yield Curves 164
Summary 169
Try It Solutions 170
Problems 171
CHAPTER 8
Taking stock 173
What s in a Value? The Basics of Stock Valuation 174
Return on Stocks 187
Summary 192
Try It Solutions 193
Problems 195
CHAPTER 9
A Capital Wea 197
The Net Present Value 198
The Profitability Index 201
The Internal Rate of Return 204
Summary 214
Try It Solutions 215
Problems 216
CHAPTER 10
Finance Fact or Rcttofl? 219
Fact or Fiction: It Pays to Get an MBA 219
Fact or Fiction: Leasing a Car Costs Less than Buying a Car 222
Fact or Fiction: Gold Has Always Been a Good Investment 225
Summary 2,30
APPENDIX A
Using Financial Calculators 281
Preparing the Calculator 232
The Basics 235
Financial Functions 237
Tips 242
Troubleshooting Problems 243
Using Spreadsheets in Financial Calcmatwns 247
The Basics 247
Time Value of Money Functions 248
VjH__________________________________________________________________CONTENTS
Cash Flow Functions 252
Other Useful Functions for Financial Mathematics 253
APPBVNXC
Formulas 255
APPfflDKD
Glossary 261
APPBWHXE
Solutions to End-of-Chapter Problems 265
Index 281
$60.00
USA/$72.00 CAN
(
cont
і
nued
from front flap
)
Understanding financial transactions
—
whether
involving investing, borrowing, or lending
—
requires an understanding of the time value of
money (TVM), as well as the financial mathematics that
go along with it. And while TVM is an essential
aspea
of finance, there aren t many resources diat take the time
to fully explain it.
In this book, the experienced author team of Pamela
Peterson Drake and Frank Fabozzi fully expand upon
the type of TVM concepts usually presented as part
of an overview given in other general finance books.
Throughout these pages, various TVM concepts and
principles are discussed, with the authors offering
examples in each chapter to reinforce the tools
and techniques covered. Problems and detailed
solutions
—
demonstrated using two different financial
calculators, as well as Excel
—
are also provided at the
end of each chapter, while glossary terms are included
in an appendix, to familiarize you with basic terms.
Divided into two comprehensive parts
—
The Basics of
the Time Value of Money and A Few Applications
—
this comprehensive guide can help you analyze almost
any financial transaction and evaluate cash flows to
determine values at different points in time or returns
on investments. Written with both the aspiring and
experienced financial professional in mind, Foundations
and Applications of the Time Value of Money.
•
Deals with the compounding and discounting of
lump sums
—
translating single values through time
•
Shows how valuing series of cash flows
is a simple extension of discounting or
compounding lump sums
•
Demonstrates how to calculate the annual
percentage rate, the effective annual rate,
and the internal rate of return for financial
transactions
•
Looks at loans and how they may be amortized
(
continued on back flap
)
•
Focuses on deferred annuities
—
which are
typically used within the retirement arena
—
and
other saving-for-future-spending scenarios
in which there is more than one withdrawal of
funds in the future
•
Addresses the valuation of stocks and bonds
using TVM mathematics
Rounding out this detailed discussion, Peterson
Drake and Fabozzi examine the applications of
the TVM mathematics with regard to: evaluating
whether to get an MBA, deciding whether to lease
or buy a car, and whether gold is a good investment.
And while this is not a personal finance book, the
authors chose examples that might interest you in
immediately applying the techniques outlined here.
Making more informed financial decisions relies
on a firm grasp of the time value of money. This
book has the insights and advice needed to achieve
such a goal.
PAMELA PETERSON DRAKE, PhD,
СТА,
is the J.
Gray Ferguson Professor of Finance and Department
Head of Finance and Business Law at James Madison
University. Prior to joining James Madison University,
she was an associate dean and professor of finance at
Florida Atlantic University, and, previous to that, a
professor at Florida State University.
FRANK J. FABOZZI, PhD,
CFA,
СРА,
is
Professor in the Practice of Finance and Becton
Fellow at the Yale School of Management, Editor of
the Journal of Portfolio Management, and Associate
Editor of the Journal of Structured Finance and the
Journal of Fixed Income.
Jacket Illustration: Jupiter Images
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| Visit wileyfinance.com |
)WILEY
wiley.com
|
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| isbn | 9780470407363 |
| language | English |
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| spelling | Peterson Drake, Pamela 1954- Verfasser (DE-588)133734269 aut Foundations and applications of the time value of money Pamela P. Drake and Frank J. Fabozzi Hoboken, NJ Wiley 2009 XVII, 298 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Frank J. Fabozzi series Includes index. Mathematisches Modell Finance Mathematical models Money Mathematical models Business mathematics Time Economic aspects Finanzmathematik (DE-588)4017195-4 gnd rswk-swf Finanzmathematik (DE-588)4017195-4 s DE-604 Fabozzi, Frank J. 1948- Verfasser (DE-588)129772054 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017992779&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017992779&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Peterson Drake, Pamela 1954- Fabozzi, Frank J. 1948- Foundations and applications of the time value of money Mathematisches Modell Finance Mathematical models Money Mathematical models Business mathematics Time Economic aspects Finanzmathematik (DE-588)4017195-4 gnd |
| subject_GND | (DE-588)4017195-4 |
| title | Foundations and applications of the time value of money |
| title_auth | Foundations and applications of the time value of money |
| title_exact_search | Foundations and applications of the time value of money |
| title_full | Foundations and applications of the time value of money Pamela P. Drake and Frank J. Fabozzi |
| title_fullStr | Foundations and applications of the time value of money Pamela P. Drake and Frank J. Fabozzi |
| title_full_unstemmed | Foundations and applications of the time value of money Pamela P. Drake and Frank J. Fabozzi |
| title_short | Foundations and applications of the time value of money |
| title_sort | foundations and applications of the time value of money |
| topic | Mathematisches Modell Finance Mathematical models Money Mathematical models Business mathematics Time Economic aspects Finanzmathematik (DE-588)4017195-4 gnd |
| topic_facet | Mathematisches Modell Finance Mathematical models Money Mathematical models Business mathematics Time Economic aspects Finanzmathematik |
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