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Syllabus – Fall 2009

MAT 340: Theory of Interest

TTh 5:15-6:30 SLN #74642 LL221

Instructor: Toni C. Garcia

Office: ECA 207 webpage: http://math.asu.edu/~garcia
e-mail: garcia@math.asu.edu Office Hours: T/TH 3:00-4:00pm and by appointment

The approach will be applied and problem-oriented. The course will be useful to students preparing for
work in mathematical economics and finance. It will also be an excellent preparation for the financial
math examination of the Society of Actuaries.

Prerequisites: Calculus (MAT 270-272).

Text: Mathematics of Investment and Credit, fourth edition, Samuel A. Broverman

ACTEX Study Manual for the SOA Exam FM & CAS Exam 2, Fall 2009Edition, Hassett, Ratliff, Steeby,
and Garcia

Grading: Take home Quizzes: 65%

Midterm and Final: 35%

The instructor WILL be using the plus/minus grading system.

Schedule: This is subject to modification by the instructor

Week Topics Due Dates

1 8/24-8/28 Ch 1 – Time value of money
2 8/31-9/4 Ch 1 – Time value of money
3 9/7-9/11 Ch 2 - Annuities Quiz 1 due Tue 9/8
4 9/14-9/18 Ch 2 - Annuities
5 9/21-9/25 Ch 2 - Annuities Quiz 2 due Tue 9/22
6 9/28-10/2 Ch 3 – Loan repayment
7 10/5-10/9 Ch 3 – Loan repayment Quiz 3 due Tue 10/6
8 10/12-10/16 Ch 3 – Loan repayment MIDTERM – Thu/Fri – 10/15-10/16
9 10/19-10/23 Ch 4 - Bonds
10 10/26-10/30 Ch 4 - Bonds Quiz 4 due Tue 10/27
11 11/2-11/6 Ch 5 – Rate of Return
12 11/9-11/13 Ch 5 – Rate of Return Quiz 5 due Tue 11/10
13 11/16-11/20 Ch 6 – Term Structure
14 11/23-11/27 Ch 6 – Term Structure Quiz 6 due Tue 11/24 Thanksgiving – 11/26
Ch 7 – Duration and
15 11/30-12/4 Immunization
16 12/7-12/11 Review/Catch-up Quiz 7 due Tue 12/8
Withdraw Deadline: Nov 8th
: Restricted Complete Withdrawal Dec 8th
Look at ASU course catalog for policies regarding withdrawals and incompletes.


Any changes announced in class are considered as official rules for the class. Check my website for daily
announcements and changes.

Calculator: A finance calculator is required. A recommended finance calculator is a Texas Instruments:

TI BA II Plus.

Exams: There will be one exam given during the semester. This exam will involve a mix of mechanical
skills and conceptual reasoning. The best possible preparation for the exam is regular attendance and
completion of assigned quizzes. Makeup exams are given only in the case of verified medical or other
emergency, which must be documented. The instructor must be notified before the test is given.

Final Exam: The final is comprehensive. It will be given according to the official Arizona State University
final exam calendar. There will be no make-up's given for the final, and no finals will be rescheduled for
personal reasons, including non-refundable airplane tickets.

Quizzes: Quizzes will be collected and graded. Students may work together on homework, but each
individual student is required to write-up and turn in their own work. LATE QUIZZES ARE NOT
ACCEPTED! However, at the end of the semester, I will drop your lowest quiz scores to allow for
something to “come up.”

Ethics: It is highly unethical to bring to your instructor’s attention the possible impact of your grade on
your future plans, including graduation, scholarship, jobs, etc. The instructor may exercise an option to
withdraw you from the course if they think you are compromising the ability to assess your work
independently of any other consideration.
Students found to be involved in academic dishonesty will be removed from the class and a grade of “E” for
the course will be submitted to the registrar. The student will be advised to repeat the course with another
professor, possibly at another institution. This is the least action taken. Further, more serious actions may
be taken if the situation indicates that such actions are appropriate. We will act very harshly against
cheating during quizzes or exams