Finance: An Introduction

Financial Institutions, Investments, and Management 5/e is one of the only books that attempts coverage of all three major areas of finance. The new title emphasizes the three-part structure of the book. Since many students will have only this exposure to the subject, this text gives them a working knowledge of all aspects of introductory finance. Features: * Boxed inserts, "Financial Facts" and "The Job Mart", provide descriptions of careers or first jobs in finance. The study of finance can lead to an exciting career, but students may not be aware of many occupations that employ material introduced in this text. The job descriptions are based on ads that were placed in the Wall Street Journal and the New York Times. * Examples in the text are relatively simple, constructed with the beginning student in mind. The numerical examples employ simple arithmetic, and small numbers are used in these examples. * Reviews material from accounting and economics which is pertinent to finance. Thus, the text may also be used by the student who wants an introduction to the world of finance but who lacks any formal coursework in economics or accounting. * Each chapter begins with a set of learning objectives, which identify topics to look for and learn as the chapter develops. * Each chapter includes review questions and, where appropriate, problems. The questions and problems are straightforward and are designed primarily to review the material. New to this edition: * Material using financial calculators is now included to facilitate the solution of time values problems, bond valuation, yeld to maturity, net present value, and internal rates of return. For students who do not have access to a financial calculator, the traditional presentation using interest tables remains intact. * Additional new material considers the price volatility of options, the calculation of the true, annualized yield for short-term investments, the costs and fees associated with investing in mutual funds, Morningstar as a source of information on mutual funds, new federal income tax rates, and the dovetailing of material on savings and loans associations and mutual savings banks into material on thrift institutions.