Info

Requested course is not available in this language at this country server

Type: online

Period: continuously accessible

Price: free

Access from the current date for 60 days.

Education is accessible for financial organizations in the region.

Financial math is a branch of applied mathematics dealing with practical financial solutions. However, this is not the main aspect of financial math. What is most important is that financial math helps us to answer the question: "Which financial transactions are the most profitable?"

The profitability of a transaction depends on the interest rate, the number of installments, the amount, the time factor, and other parameters. All parameters are variable. For example, repayments can be made in the form of periodic installments or one bullet payment. A transaction can be either short-term or long-term. There are several types of interest rates and different methods of interest accrual.

Therefore, it is important that you, as a specialist working in the financial sector, should be able to understand the specificity of financial settlements, make calculations, explain to the client the advantages of keeping money in your financial institution, or how to choose the optimal loan repayment schedule.

The course targets a wide range of specialists. It will be especially useful for less experienced employees who work directly with clients on deposits and/or loans.

  This course covers the basic financial concepts and calculation methods, and answers the following questions:

  • How and why does time affect the value of money?
  • Why do banks accrue interest? What is the difference between compound and simple interest?
  • What is discounting?
  • Why can contracts stipulate two interest rates? What is the effective interest rate?
  • How can you calculate the effective interest rate for loans and deposits?
  • What are the most common loan repayment forms and schedules?
  • How is penalty interest calculated in case of a borrower’s default on a loan?

The topic is presented through the prism of country-specific practices and legislation of Central Asian countries.

The course includes three topics, each divided into a number of short lessons. The theory is supported by calculation examples and practical tasks for independent solution.

At the end of the course, you will be asked to take the final test. Based on the testing results, an electronic certificate of course completion will be issued.

The duration of the course:  5 hours, including 60 minutes on the final test.