Financial Mathematics for Actuaries pdf free download. Accumulation Function and Amount Function
• The sum of money borrowed is called the principal.
• The borrower compensates the lender by paying interest.
• At the end of the loan period the borrower pays the lender the
accumulated amount, which is equal to the sum of the principal
• We denote A(t) as the accumulated amount at time t, called the
• A(0) is the initial principal and
Financial Mathematics for Actuaries pdf free download
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