This unit aims to assist students to:
(a) understand the basic concepts of mathematics of finance (present value and accumulated value) and their application to both single payments and annuities;
(b) apply these basic mathematical concepts in valuing a range of financial instruments including savings and investment accounts, promissory notes, mortgage loans, personal loans, bonds and debentures, etc.; and
(c) know the functions of the Australian financial system, and the financial institutions (banks, insurance companies, finance companies, credit unions, etc.), financial instruments (bills, bonds, debentures, shares, etc.) and financial markets which form part of it.
A background of HSC 2-unit Mathematics or equivalent numerical competency is desirable.
