A Comparison of Macaulay Approximations
نویسندگان
چکیده
We discuss several known formulas that use the Macaulay duration and convexity of commonly used cash flow streams to approximate their net present value, compare them with a new approximation formula involves hyperbolic functions. Our objective is assess reliability each under different scenarios. The results in this note should be interest actuarial candidates educators as well analysts working all areas practice.
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ژورنال
عنوان ژورنال: Risks
سال: 2022
ISSN: ['2227-9091']
DOI: https://doi.org/10.3390/risks10080153