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On page 29 of Chapter 13, above the heading Why is it called convexity it reads, "Positive convexity implies that the discounted mean term is a...
May someone please help me understand the difference between the phi_t and psi_t in Chapter 16 vs Chapter 17? In other words, the difference...
Thank you, I've understood. :):)
In the ActEd CM1 notes, Chapter 13: They discuss the yield to maturity and then go on to ask a question where we solve for gross redemption...
Twelve years later and your contribution has helped yet another prospective Actuary, thank you so much!