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Electronically produced and distributed. Copyright is governed by the creative commons copyright statement, the full statement of which may be found at [http://creativecommons.org/licenses/by-nc-sa/3.0/legalcode](http://creativecommons.org/licenses/by-nc-sa/3.0/legalcode) and the human readable summary which may be found at [http://creativecommons.org/licenses/by-nc-sa/3.0/ The](http://creativecommons.org/licenses/by-nc-sa/3.0/ The)[ ](http://creativecommons.org/licenses/by-nc-sa/3.0/ The)[basic intent is:](basic intent is:)  \n(1) Permission is granted to post and or use this book on other websites provided that all content including the authorship and copyright statement are included intact and that no monetary gain is obtained.  \n(2) Non full citations, that is citations of material from this book should acknowledge the author, title, & website source  \n[https://tigerweb.towson.edu/rhendel/TheFMLectureNotesofDrHendel.pdf](https://tigerweb.towson.edu/rhendel/TheFMLectureNotesofDrHendel.pdf)  \n(3) It is prohibited for anyone to use the material on this website for commercial use, that is to derive monetary gain or grant money from it. For complete details on the common’s copyright seethe URLs cited earlier.  \nTABLE OF CONTENTS  \nTo access a chapter use CONTROL FIND (e.g. CONTROL FIND Chapter 14)  \n\n| CHAPTER | TITLE |\n| --- | --- |\n| Introduction | Introduction and Preface |\n| 1 | Compound Interest Growh |\n| 2 | Nine Accumulation Functions |\n| 3 | Money Growth: Advanced Tips |\n| 4 | Annuities |\n| 5 | Increasing, Decreasing Annuities |\n| 6 | Inflation, Geoemtrically Increasing Annuities\u003Cbr>Ambiguous Words |\n| 7 | Payment Period vs. Interest Period |\n| 8 | Nested Annuities |\n| 9 | Outstanding Loan Balance & Baloon Payments |\n| 10 | Loans and Sinking Funds |\n| 12 | Bonds |\n| 13 | Reinvestment |\n| 14 | IRR, NPV, Spot Rates, Forward Rates, Yield Curve |\n| 15 | Duration |\n| 16 | Exact Asset Matching, Immunization |\n| 18 | Spot Rates, Forward Rates, Yield Curve |\n| 21 | Callable Bonds |\n\nINTRODUCTION and PREFACE  \nVersion 4.1 of the “Lecture Notes” has the same commitment as the previous versions: A person mastering these notes and the problems associated with them will have a firm background in the Theory of Interest sufficient to pass the jointly administered Casualty Actuarial Society (CAS) and Society of Actuary (SOA) Financial Mathematics exam. The following bulleted list contains new (and old) features of these notes.  \n• Accuracy: The notes have been used for several semesters. I wish to thank my students for catching many typos. I believe that almost all mathematical and English errors have been caught, enhancing book usability.  \n• Pedagogically Challenging: The book’s pedagogic style is based on Deborah HughesHallet’s rule of 4: Material, both text and problems, are presented using four modalities: verbal, computational, geometric (time line) and formal. Such a format addresses executive function and corresponds to the challenging levels of the Marzano and BloomAnderson taxonomies of pedagogic challenge. I have published a more general treatment of pedagogy, unifying the hierarchies of Bloom, Anderson, Gagne, Marzano, Van-Hieleand others. It may be found in Chapter 11,“Leadership for Improving Student Success Through Higher Cognitive Instruction,” of Comprehensive Problem Solving and Skill Development for Next Generation Leaders, R. Styon and J. Styron Eds, IGI publishing  \n2018. The book emphasizes that certain problems are more easily solvable using one modality versus another (For example, refinancing problems can be done quickly and efficiently using TV Calculator lines) . I require my students to purchase the BA II Plus and these notes reflect that requirement.  \n• One semester coverage, Lean and Lively Look: The book is 133 pages and 19 chapters. The author covered the material at Towson Universit","cbCaimA1RT8ugUNX","https://ap.wps.com/l/cbCaimA1RT8ugUNX","pdf",6578367,116,"English","# Introduction and Preface\n## Accuracy and pedagogy\n## Course coverage and problem sources\n# Compound Interest Growth\n## Money growth basics","[{\"question\":\"What learning approach does the introduction describe?\",\"answer\":\"The pedagogic style uses four modalities—verbal, computational, geometric (time line), and formal—to address different levels of pedagogic challenge and to make certain problems solvable more efficiently using the most suitable modality.\"}]","Dr Hendel’s FM Lecture Notes - Chapter 1 - Compound Interest Growth | PDF",1790488711,292]