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Search: Posts Made By: Gandalf
Forum: Financial Mathematics Today, 09:09 AM
Replies: 120
Views: 3,243
Posted By Gandalf
How long is it from time 0 to the beginning of...

How long is it from time 0 to the beginning of year 4?
Forum: Financial Mathematics Yesterday, 10:28 PM
Replies: 120
Views: 3,243
Posted By Gandalf
When they say “End of year 1” they mean “End of 1...

When they say “End of year 1” they mean “End of 1 year from now”. So you are correct, they should get the values of payments at t=3,4,5. And they are correct, those are the payments they are...
Forum: Financial Mathematics 06-14-2019, 10:11 AM
Replies: 6
Views: 225
Posted By Gandalf
You want v^2 either way, because you want the...

You want v^2 either way, because you want the value 2 years before the annuity starts, not the value 2 years before the first payment.

Jeff buys a_{\overline{n}|}, so its value 2 years earlier is...
Forum: General 06-13-2019, 04:17 PM
Replies: 5
Views: 236
Posted By Gandalf
Thanks. Good luck with the book, and to the...

Thanks. Good luck with the book, and to the candidates using it.
Forum: General 06-13-2019, 09:45 AM
Replies: 5
Views: 236
Posted By Gandalf
What does that mean universities have done? That...

What does that mean universities have done? That the Sout Africa society has done?
Forum: Financial Mathematics 06-12-2019, 07:40 PM
Replies: 18
Views: 3,736
Posted By Gandalf
A very common version of the important...

A very common version of the important relationship is a doubledot angle n = (1+l) a angle n.

That extends to a doubledot 300 times v^60 = a 300 times v ^ 59.

You should consider using...
Forum: Financial Mathematics 06-12-2019, 06:12 PM
Replies: 18
Views: 3,736
Posted By Gandalf
No. Different angles mean different number of...

No. Different angles mean different number of payments. 301 payments in the first, only 300 in the second.

As to timing, a angle 301 is payments (measured from the start of the annuity) at 1, so...
Forum: Probability 06-12-2019, 10:20 AM
Replies: 2
Views: 162
Posted By Gandalf
This was posted by one of the TIA author’s back...

This was posted by one of the TIA author’s back in 2009:
Likely still true. That doesn’t mean you will fail if you don’t study it. You don’t need to get all the questions right to pass, and you...
Forum: Financial Mathematics 06-12-2019, 10:11 AM
Replies: 2
Views: 97
Posted By Gandalf
Consider this very similar question If the...

Consider this very similar question
If the question were phrased that way, I think you would surely apply an s at 5% to those payments. If that is how much the company is paying, the formula gives...
Forum: Financial Mathematics 06-12-2019, 09:32 AM
Replies: 120
Views: 3,243
Posted By Gandalf
I agree with the thinking behind I, in that the...

I agree with the thinking behind I, in that the term structure of interest rates is the same throughout, so that anything invested for 1 year will earn 5% for that year, whenever invested.

That...
Forum: Financial Mathematics 06-12-2019, 08:56 AM
Replies: 120
Views: 3,243
Posted By Gandalf
Please tell me that one is not an SOA question. ...

Please tell me that one is not an SOA question. That seems way too wrong for Finan too.
Forum: Financial Mathematics 06-11-2019, 11:19 PM
Replies: 120
Views: 3,243
Posted By Gandalf
I don´t understand the argument you are making. ...

I don´t understand the argument you are making. In particular, the idea that 5,000 x 20 is what you invested. What does that mean?

Overall, the result should seem reasonable. If interest rates...
Forum: Financial Mathematics 06-11-2019, 10:56 PM
Replies: 1
Views: 75
Posted By Gandalf
They could have treated it as a 10 year annuity,...

They could have treated it as a 10 year annuity, multiplying by 1200. It should give the same answer as a 120 month annuity of 100.

You say “we have to convert nominal interest rate to annual...
Forum: Financial Mathematics 06-09-2019, 07:12 AM
Replies: 120
Views: 3,243
Posted By Gandalf
No 917.143 is not the right approach, and I think...

No 917.143 is not the right approach, and I think this wording isn’t ambiguous at all with respect to the situation at purchase. The wording about the purchase situation is fairly common with good...
Forum: Financial Mathematics 06-08-2019, 11:04 PM
Replies: 120
Views: 3,243
Posted By Gandalf
Stuff (among other things) happens. Yes, some...

Stuff (among other things) happens. Yes, some ambiguous questions get asked on SOA exams, but not a lot IMO. Some of the questions you’ve posted here, from whatever source, have been ambiguous, but...
Forum: Financial Mathematics 06-08-2019, 10:25 PM
Replies: 120
Views: 3,243
Posted By Gandalf
You are mostly or exclusively asking questions...

You are mostly or exclusively asking questions from Finan. His book is pretty good, and the price is right, but his questions are not as important to anyone as actual exam questions, and the problem...
Forum: Financial Mathematics 06-08-2019, 10:08 PM
Replies: 120
Views: 3,243
Posted By Gandalf
Oh, and you also asked about the market value of...

Oh, and you also asked about the market value of the bond. I could not imagine that being anything other than “the present value, at the market interest rate, of the future cash flows”. I wouldn’t...
Forum: Financial Mathematics 06-08-2019, 10:03 PM
Replies: 120
Views: 3,243
Posted By Gandalf
I don´t think I would interpret the wording to be...

I don´t think I would interpret the wording to be asking for 208.16. However, seeing that the answer is supposed to be 208.16, I believe the question is asking

What is the difference between:
1....
Forum: Financial Mathematics 06-06-2019, 09:13 PM
Replies: 120
Views: 3,243
Posted By Gandalf
In s|19, payments are invested at the end of each...

In s|19, payments are invested at the end of each period, so nothing has earned 19 periods interest and 1 payment has received 0 periods interest. So that + 1 payment does not match the pattern you...
Forum: Probability 06-02-2019, 09:49 AM
Replies: 4
Views: 288
Posted By Gandalf
Zero controls? Fewer controls to be sure, but...

Zero controls? Fewer controls to be sure, but you must sign the envelope containing your written answers, and you acknowledge that signatures could verify whether the applicant or someone else took...
Forum: Financial Mathematics 06-01-2019, 10:13 PM
Replies: 120
Views: 3,243
Posted By Gandalf
You were correct when you wrote the terms,...

You were correct when you wrote the terms, starting with 1000+300=1300.

Your formula would start with 1000 (in the level annuity)+150 (in the decreasing annuity), total only 1150.
Forum: Probability 06-01-2019, 10:07 PM
Replies: 2
Views: 195
Posted By Gandalf
Very likely not. Calculus is no longer tested. ...

Very likely not. Calculus is no longer tested. So such a question could only be asked in the context of a probability question. Theoretically they could ask such a question, but if you did get...
Forum: Financial Mathematics 06-01-2019, 09:57 PM
Replies: 120
Views: 3,243
Posted By Gandalf
See embedded responses

See embedded responses
Forum: General 06-01-2019, 10:37 AM
Replies: 3
Views: 416
Posted By Gandalf
You should ask TIA what they mean. Probably for...

You should ask TIA what they mean. Probably for P they mean no prior knowledge of probability. OTOH, if you don´t know 1+1=2, you will be in a world of trouble. They likely expect you to know...
Forum: Financial Mathematics 05-30-2019, 10:00 PM
Replies: 120
Views: 3,243
Posted By Gandalf
I hate to say books are wrong, since they are...

I hate to say books are wrong, since they are almost always right, but your work looks right to me.
Showing results 1 to 25 of 300

 

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