About

This open-access textbook is designed to make the study of financial mathematics both accessible and engaging for everyone. Primarily aimed at first-year college and university students enrolled in business programs, its content is crafted to be of value to learners across all disciplines. Whether learners are encountering the Mathematics of Finance for the first time or seeking a comprehensive refresher, this textbook stands as a versatile resource.

Calculator and Formula Approaches

Recognizing the diverse instructional methods employed in teaching key financial mathematics concepts—such as compound interest and annuities—we have structured this book to accommodate both the financial calculator and the algebraic formula approaches. Topics are organized into distinct sections based on these methodologies, allowing learners to concentrate on the approach that best aligns with their learning goals, without the distraction of unrelated content.

Content and Format

Each chapter introduces fundamental concepts and illustrates their application through practical scenarios, complete with detailed solutions. To further aid in comprehension, the textbook includes ‘Try An Example’ questions. These questions, generated dynamically via the MyOpenMath platform, not only test understanding but also provide instant feedback, enhancing the learning experience with the opportunity to practice and receive immediate support.

Incorporating interactive elements such as videos, dynamic problems, and graphs, the textbook is optimized for web viewing through Pressbook. This enables full interaction with its multimedia content, from watching instructional videos to engaging with dynamic graphs and problem sets. While a downloadable PDF version is available, it does not include the interactive features found in the web format.

Web-based Financial App

In addition to step-by-step guidance on utilizing the Texas Instrument BA II Plus financial calculator, a dedicated web application has been developed for this book. This tool provides a cost-free, user-friendly alternative to purchasing a financial calculator, further democratizing access to financial education.

Sponsor

This project has received support and funding from the Government of Ontario. The views expressed in this publication are the views of the author and do not necessarily reflect those of the Government of Ontario or the Ontario Online Learning Consortium.

Dr. Amir Tavangar – Author and App Developer

Dr. Kate Zhang – Project Lead and Editor