Современная финансовая математика

Abstract

Financial (or actuarial) mathematics, based on the idea of increasing the value of money over time, is significantly used in various areas of the economy: banking, valuation, investment analysis, accounting, etc. Most textbooks are based on the school course of compound interest. With its help, formulas are obtained for the so-called six financial multipliers (functions) of constant interest. These representations were originally developed for banking, where they are successfully used. But even the transfer of ideas about the value of money in time to the insurance business required significant clarifications related to the continuity of time and the process of accumulation. These achievements should also be used in evaluation activities. It should also be noted that many textbooks in financial mathematics - use cumbersome disordered Russian-language terminology, which appeared as a result of hasty translations from English in the last decade of the last century and the lack of familiarity with prerevolutionary Russian-language terminology in this area, - suffer from a lack of focus on calculations typical for practice using the Microsoft Excel package. The article describes the concept of presenting the course of financial mathematics based on the continuity of interest calculation using simple Russian terminology and focusing on the use of Microsoft Excel, which corresponds to the modern practice of valuation, and also presents some results of its application.