MATH 253 - Theory of Interest

3 units (fi 6)(EITHER, 3-0-0)

Accumulation and amount functions, effective, nominal, simple, and compound rates, force of interest and discount, simple and general annuities certain, variable annuities and perpetuities, amortization schedules and sinking funds, bonds and other securities, applications, installment loans, depreciation, depletion, capitalized cost. Prerequisite: One of MATH 101, 115, 118, 136, 146, 156 or SCI 100. Corequisite: MATH 209 or 214.