# Textbook Notes for Actuarial Science 2053 at Western University (UWO)

WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 6: Canada Savings Bond, Soo Line Railroad

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When a corporation or government needs a large sum of money for a long period of time, they can issue bonds: the bonds can be sold to a large number of
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 4: Sug

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Not all annuities have a level series of payments; instead we are going to look at annuities where the payments change every period. A man, age 35, is
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 4: Compound Interest, Interest, Financial Institution

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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 3: Interpolation, B-Method, Linear Interpolation

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Determining the term of an annuity (section 3. 5) You can use logs to solve: ins | ina | or. Problem: n will rarely be an integer, will need to calcula
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 3: Egg Cell, Geometric Progression

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Suppose you deposit every 6-months for 2-years. 40-years? (80 payments in total) what is the accumulated value just after the 80th deposit (still at j
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 3: Discounting, Savings Account, Asud

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We denote the above sum by the symbol (read: a-angle-n-at-i) a | in n i. This is called the discount factor for n- payments: if the ordinary simple ann
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 2: Eof, Urs, University Of Western Ontario

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You owe in 2. 5 years and in 4 years. It is agreed that you will instead pay. today and another in 39 months. A loan of is due in 3 years with int
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 5: Amortization Schedule, Scud, Aldehyde

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WESTERNAS 2053Bob LaroseFall

## Actuarial Science 2053 Chapter 8: Chaper 8 ANSWERS.pdf

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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 5: Refinancing, Sinking Fund, 18 Months

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Refinancing a loan the sum of digits. Define: i = total interest paid on loan = nr a, sum of digits 1 to n, sn = A loan of is to be repaid with 6 equa
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WESTERNAS 2053Steven KoppFall

## Actuarial Science 2053 Chapter Notes - Chapter 5: Refinancing, Interest Rate, Ung County

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It is common practice to refinance a long- term loan before it is fully paid back. A 25 year mortgage for ,000 with monthly payments is taken out at an
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WESTERNAS 2053Bob LaroseFall

## Actuarial Science 2053 Chapter Notes - Chapter 6: Write-Off, Total Return, Callable Bond

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P = 22. 50a40|. 04 + 500(1. 04) 40 or p = 500 + (22. 50 20)a40|. 04 = . 48. P = 45a30|. 05 + 1000(1. 05) 30 or p = 1000 + (45 50)a30|. 05 = . 14. P = 6
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