Download Introductory Mathematics and Statistics for Islamic Finance, by Abbas Mirakhor PDF

By Abbas Mirakhor

A different primer on quantitative equipment as utilized to Islamic finance

Introductory arithmetic and records for Islamic Finance + site is a accomplished consultant to quantitative equipment, particularly as utilized in the realm of Islamic finance. With purposes in accordance with examine, the ebook presents readers with the operating wisdom of math and facts required to appreciate Islamic finance idea and perform. the varied labored examples supply scholars with a number of backgrounds a uniform set of universal instruments for learning Islamic finance.

The in-depth learn of finance calls for a robust origin in quantitative tools. and not using a solid snatch of math, chance, and information, released theoretical and utilized works in Islamic finance stay out of achieve. not like a customary math textual content, this publication courses scholars via in basic terms the tools that at once practice to Islamic finance, with out losing time on inappropriate suggestions. each one bankruptcy features a particular clarification of the subject to hand, by means of an instance according to actual occasions encountered in Islamic finance. subject matters comprise: * Algebra and matrices * Calculus and differential equations * chance conception * information

Written by way of prime specialists at the topic, the ebook serves as an invaluable primer at the research tools and strategies scholars will stumble upon in released study, in addition to daily operations in finance. a person meaning to be triumphant in Islamic finance wishes those talents, and Introductory arithmetic and records for Islamic Finance + site is a transparent, concise, and hugely appropriate consultant.

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38) nˆ1 To sum up, given an infinite sequence of numbers {xn }, a series is informally the result of adding all those terms together: xP 1 ‡ x2 ‡ x3 ‡ ∙ ∙ ∙. These can be written more compactly using the summation symbol . WEBC01 05/20/2014 10:4:2 Page 19 Elementary Mathematics 19 X∞ 1 1 1 1 ˆ ‡ ‡ ‡∙ ∙ ∙ nˆ1 2n 2 4 8 The terms of the series are often produced according to a certain rule, such as by a formula. As there are an infinite number of terms, this series is often called an infinite series.

This ∞ sequence could be denoted …2n†nˆ nˆ ∞ . A sequence is said to be monotonically increasing if each term is greater than or ∞ this can be written as x  x equal to the one before it. For a sequence …xn †nˆ1 n n‡1 for all n ∈ N, where N is the set of all integers. If each consecutive term is strictly greater (>) than the previous term then the sequence is called strictly monotonically increasing. A sequence is monotonically decreasing if each consecutive term is less than or equal to the previous one, and strictly monotonically decreasing if each is strictly less than the previous.

We use the product rule; we have À 3x2 2x2 ‡ 8x Á À Á 5 ‡ …4x ‡ 8† x3 ‡ 1 ˆ 10x4 ‡ 32x3 15x2 ‡ 8. dy x‡2 if y ˆ 3x4x2 ‡5 . Example: Find dx By the quotient rule, 2 À 2 Á À 4x ‡ 5 …6x 1† …8x† 3x2 dy ˆ 2 dx …4x2 ‡ 5† x‡2 Á À ˆ Example: f …g† ˆ h…g† ˆ g17 , g…x† ˆ x x2 . À Á17 df À Á16 We obtain f …x† ˆ x x2 , dx ˆ 17 x x2 …1 4x2 ‡ 14x …4x2 ‡ 5† 5 Á 2 2x†. MAXIMUM AND MINIMUM OF A FUNCTION In Islamic finance, we are interested in studying the existence of extremum values of a function over a given domain of definition for the function.

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