CM1 Actuarial Mathematics
Interest theory, annuities, loans and bonds, life contingencies and joint lives, plus the notation cheat sheet.
Interactive tools
Loan amortisation calculator
Level payments with the full interest and capital schedule and outstanding balance, monthly or annual. The CM1 loan question, and every mortgage ever.
Bond price and yield calculator
Price from yield or yield from price, with running yield, duration, modified duration and convexity. Fixed interest for CM1, SP5 and CFA.
NPV and IRR calculator
Type a cash-flow row, get NPV at your rate, the IRR, discounted payback and the whole NPV curve. Project appraisal for CM1 and CB1.
Survival models playground
Gompertz-Makeham mortality with live sliders: survival curves, force of mortality and life expectancy. Illustrative law, not a published table. CS2 and CM1.
Annuity calculator
Annuities-certain in proper notation: arrears, due, continuous and increasing values, accumulations, and every equivalent way of quoting an interest rate. Core CM1.
Life contingencies calculator
Assurances, life annuities, net premiums and prospective reserves on an adjustable Gompertz-Makeham basis, with live reserve curves. The other half of CM1.
Joint life and last survivor
Two lives on an adjustable mortality basis: joint-life and last-survivor survival curves, annuities and assurances, all through one inclusion-exclusion identity. CM1.
Immunisation playground
Two bonds solved to match a liability's present value and duration, and the surplus smile that proves Redington's conditions work — against a PV-only portfolio that doesn't. CM1 and SP5.
Reference sheets
Actuarial notation cheat sheet
Interest theory, annuities-certain, the life table, assurances and life annuities on one page: every symbol rendered properly with its meaning and key formula.
CM1 formula cheat sheet
Interest conversions, annuities-certain, the life table, assurance and annuity EPVs, premium conversion, reserves and loan schedules: the CM1 core in proper notation on one page.