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Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, which is the study of production, distribution, and consumption of money, assets, goods and services . Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance.
Mathematics is an area of knowledge that includes the topics of numbers, formulas and related structures, shapes and the spaces in which they are contained, and quantities and their changes. These topics are represented in modern mathematics with the major subdisciplines of number theory, algebra, geometry, and analysis, respectively. There is no general consensus among mathematicians about a common definition for their academic discipline.
A computer algebra system (CAS) or symbolic algebra system (SAS) is any mathematical software with the ability to manipulate mathematical expressions in a way similar to the traditional manual computations of mathematicians and scientists. The development of the computer algebra systems in the second half of the 20th century is part of the discipline of "computer algebra" or "symbolic computation", which has spurred work in algorithms over mathematical objects such as polynomials.
A consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time.
Rote learning is a memorization technique based on repetition. The method rests on the premise that the recall of repeated material becomes faster the more one repeats it. Some of the alternatives to rote learning include meaningful learning, associative learning, spaced repetition and active learning.
A nomogram, also called a nomograph, alignment chart, or abac, is a graphical calculating device, a two-dimensional diagram designed to allow the approximate graphical computation of a mathematical function. The field of nomography was invented in 1884 by the French engineer Philbert Maurice d'Ocagne (1862–1938) and used extensively for many years to provide engineers with fast graphical calculations of complicated formulas to a practical precision. Nomograms use a parallel coordinate system invented by d'Ocagne rather than standard Cartesian coordinates.
Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. It has also been defined as the application of technical methods, especially from mathematical finance and computational finance, in the practice of finance.
In contemporary education, mathematics education—known in Europe as the didactics or pedagogy of mathematics—is the practice of teaching, learning, and carrying out scholarly research into the transfer of mathematical knowledge.
A formula editor is a computer program that is used to typeset mathematical formulas and mathematical expressions.
In mathematics, a closed-form expression is a mathematical expression that uses a finite number of standard operations. It may contain constants, variables, certain well-known operations, and functions, but usually no limit, or integral.
The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. Those terms have formal, legal definitions in some countries or legal jurisdictions, but in the United States:
Computational science, also known as scientific computing, technical computing or scientific computation (SC), is an area of science that uses advanced computing capabilities to understand and solve complex physical problems. This includes
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.
Society for Industrial and Applied Mathematics (SIAM) is a professional society dedicated to applied mathematics, computational science, and data science through research, publications, and community. SIAM is the world's largest scientific society devoted to applied mathematics, and roughly two-thirds of its membership resides within the United States. Founded in 1951, the organization began holding annual national meetings in 1954, and now hosts conferences, publishes books and scholarly journals, and engages in advocacy in issues of interest to its membership. Members include engineers, scientists, and mathematicians, both those employed in academia and those working in industry. The society supports educational institutions promoting applied mathematics.
Financial modeling is the task of building an abstract representation of a real world financial situation. This is a mathematical model designed to represent the performance of a financial asset or portfolio of a business, project, or any other investment.
Computational finance is a branch of applied computer science that deals with problems of practical interest in finance. Some slightly different definitions are the study of data and algorithms currently used in finance and the mathematics of computer programs that realize financial models or systems.
Business mathematics are mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.
Computer-based mathematics education (CBME) is an approach to teaching mathematics that emphasizes the use of computers.
Special functions are particular mathematical functions that have more or less established names and notations due to their importance in mathematical analysis, functional analysis, geometry, physics, or other applications.
Applied mathematics is the application of mathematical methods by different fields such as physics, engineering, medicine, biology, finance, business, computer science, and industry. Thus, applied mathematics is a combination of mathematical science and specialized knowledge. The term "applied mathematics" also describes the professional specialty in which mathematicians work on practical problems by formulating and studying mathematical models.
References
- ↑ Consumer Math Success Kit, 1996, p.205, ISBN 0-8251-2852-8, webpage: Books-Google-kC.
- ↑ "Wilmington University Course Descriptions", wilmu.edu, 2010, webpage: WU205.