- Tapa blanda: 643 páginas
- Editor: McGraw-Hill Education; Edición: 3 (1 de abril de 2008)
- Idioma: Inglés
- ISBN-10: 0071276270
- ISBN-13: 978-0071276276
- Valoración media de los clientes: Sé el primero en opinar sobre este producto
- Clasificación en los más vendidos de Amazon: nº437.983 en Libros en idiomas extranjeros (Ver el Top 100 en Libros en idiomas extranjeros)
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Theory of interest (Inglés) Tapa blanda – 1 abr 2008
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Reseña del editor
The third edition of The Theory of Interest is significantly revised and expanded from previous editions. The text covers the basic mathematical theory of interest as traditionally developed. The book is a thorough treatment of the mathematical theory and practical applications of compound interest, or mathematics of finance. The pedagogical approach of the second edition has been retained in the third edition. The textbook narrative emphasizes both the importance of conceptual understanding and the ability to apply the techniques to practical problems. The third edition has considerable updates that make this book relevant to students in this course area.
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Lack of motivation. Every topic should start with some sort of motivating example. Given that the theory of interest has myriad applications, I find it difficult to understand why the author chose not to use a single example of why a particular topic is relevant to the real world.Chapter 1 starts off (section 1.2; the intro was section 1.1) with the accumulation function. We don't even see an example of the simplest kind of interest (i.e. simple interest) until section 1.4! The chapter _should_ have started with some examples of interest (simple interest, maybe even annual interest for a simple exponential model) to build the reader's intuition. With this already laid out, introducing the accumulation function becomes very natural.
2. The author introduces terms that "is not intuitively clear" (e.g. "effective" on page 5 -- a bit too early?). This should _not_ ever happen in any textbook whose goal is to teach! Had the author actually presented a few examples (using different periods such as a year vs. a month), "effective" could easily be explained by a need to have some way to do an apples-to-apples (i.e. yearly) comparison of different interest models.
Sometimes the mathematical explanations could have been made simpler. For example, on page 11, the author uses linear interpolation between two values (1+i)^n and (1+i)^(n+1). The formula he uses is (1-k)(1+i)^n + k(1+i)^(n+1) with 0<k<1. While mathematically sound, I cannot help but wonder: why not just use the formula of a line whose intercept is (1+i)^n and whose slope is precisely the effective rate i which was just derived 2 pages earlier?! It certainly (to me) makes it obvious where "linear" in linear interpolation comes from.
3. More details needed in earlier sections. It's one thing to leave out details for the readers to fill in for themselves when proving certain results in, say, Chapter 5 of a 13-chapter book. The idea is that by this late into the book, readers should already have a strong grasp of the simpler details of a proof or solution. However, when starting from scratch (if I may), the details need to be all there for clarity's sake. That is, proofs and solutions should spell out all the details not only for clarity, but pedagogically readers also have a reference on which they can base their own solutions or proofs.
This book is fine for those who have a strong background and are already familiar with the topics treated within. However, for beginners, this book does a poor job of presenting the theory of interest.
the only reason i give the book 4 stars instead of 5 is due to its price which is rather high.
Getting a copy that was in good versus new condition was ok as it dropped the price and notes in the margin helped me understand the material.