Financial Mathematics BSNA 1307

Course description:

This course provides a mathematical foundation for business and economics students, and expands understanding of the applications of mathematical concepts in financial applications. Emphasis is placed upon learning mathematical concepts through practical application to common financial problems. This course covers the basic concepts of mathematics, set theory, relations and functions.

Course Aims:

Upon completion of the course, students will be able to:
  • Calculate simple interest, compound interest, present value, annuities and amortization of loans.
  • Calculate installment value for fixed and declining payments, settlement of debt of all maturities, long-term and short term.
  • Use of some computer programs relating to the accounts and interest rates.

Course outcomes:

By the successful completion of this unit, students will be able to:
  • Introduce students to the types of interest. 
  • How to calculate simple interest and compound interest.
  • The definition of student loans, debt repayment and methods.
  • Premium account of fixed and declining payments.
  • Debt settlement of all maturities long-term and short-term.