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Looking to rent a book? Rent Mastering Financial Mathematics in Microsoft Excel A Practical Guide for Business Calculations [ISBN: 9780273730330] for the semester, quarter, and short term or search our site for other textbooks by Day, Alastair. Renting a textbook can save you up to 90% from the cost of buying.
Alastair Day has worked in the finance industry for 20 years in treasury and marketing functions. In 1990 he established Systematic Finance as a consultancy and financial lessor concentrating on the computer and communications industries. Alastair has a degree in Economics and German from London University, an MBA from the Open University Business School, and is an associate lecturer in corporate finance with the OUBS. He is the successful author of several books including Mastering financial Modelling, Mastering Risk Modelling and The Financial Director’s Guide to Purchasing Leasing published by the Financial Times Prentice Hall and a range of software products. In addition, he develops and presents public and in-house courses on a range of topics including financial modelling, leasing, credit and cash flow analysis, and other corporate finance topics.
Table of Contents
Acknowledgements
About the Author
Conventions
Overview
Warranty and disclaimer
1 Introduction
Overview
Common Excel errors
Systematic design method
Auditing
Summary
Exercises
2 Basic financial arithmetic
Simple interest
Compound interest
Nominal and effective rates
Continuous discounting
Conversions and comparisons
Exercise
Summary
3 Cash flows
Net present value
Internal rate of return
XNPV and XIRR
XNPV periodic example
Modified internal rate of return
Exercise
Summary
4 Bonds calculations
Description
Cash flows
Zero coupons
Yield
Yield to call
Price and yield relationship
Yield curve pricing
Other yield measures
Yield measures
Exercise
Summary
5 Bonds risks
Risks
Duration
Convexity
Comparison
Exercise
Summary
6 Floating rate securities
Floating rates
Characteristics of interest rate securities
Yield evaluation
Coupon stripping
Exercise
Summary
7 Amortization and depreciation
Amortization
Full amortization
Delayed payments
Sum of digits
Straight line and declining balance depreciation
UK declining balance method
Double declining balance depreciation
French depreciation
Exercise
Summary
8 Swaps
Definitions
How swaps save money
Advantages of swaps
Terminating interest rate swaps
Implicit credit risk
Worked single currency swap
Valuation
Cross currency swap
Worked example
Swaptions
Exercise
Summary
9 Forward interest rates
Definitions
Example forward rates
Hedging principles
Forward rate agreement
Yield curves
Exercise
Summary
10 Futures
Futures market
Terminology
Benefits
Clearinghouse operation
Bond futures
Hedging mechanisms
Hedging example one
Hedging example two
Exercise
Summary
11 Foreign exchange
Risk
Spot rates
Longer dates
Equivalence
Comparisons and arbitrage
Exercise
Summary
12 Options
Description
Terminology
Underlying asset
Call options
Put options
Example
Covered call
Insurance using a stock and a long put
Pricing models
Black Scholes model
Call put parity
Greeks
Binomial models
Comparison to Black Scholes
Exercise
Summary
13 Real options
Real options
Black Scholes model
Binomial model
Exercise
Summary
14 Valuation
Valuation methods
Assets
Market methods
Multi-period dividend discount models
Free cash flow valuation
Adjusted present value
Economic profit
Exercise
Summary
15 Leasing
Economics of leasing
Interest rates
Classification
Amortization
Accounting
Settlements
Lessor evaluation
Lessee evaluation
Exercise
Summary
16 Basic statistics
Methods
Descriptive statistics
Probability distributions
Sampling/Central Limit Theorem
Hypothesis testing
Correlation and regression
LINEST function
Exercise
Summary
Appendix
Glossary
Index
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