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More securities Manual for SOA Exam FM/CAS Exam 2.
 

Summary: 1/11
More securities
Manual for SOA Exam FM/CAS Exam 2.
Chapter 5. Bonds.
Section 5.6. More securities.
c 2009. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for the SOA Exam FM/CAS Exam 2,
Financial Mathematics. Fall 2009 Edition",
available at http://www.actexmadriver.com/
c 2009. Miguel A. Arcones. All rights reserved. Manual for SOA Exam FM/CAS Exam 2.
2/11
More securities
Serial bonds
A serial bond is a collection of bonds issued at the same time but
with different redemption dates. The price of a serial bond is the
sum of the prices of the individual bonds.
Let Pk, Ck, Kk be the price value, the redemption value and the
present value of redemption value of the kth bond. Let P , C , K
be the price value, redemption value and present value of

  

Source: Arcones, Miguel A. - Department of Mathematical Sciences, State University of New York at Binghamton

 

Collections: Mathematics