PEARSON EDUCATION LIMITED Edinburgh Gate Harlow CM20 2JE United Kingdom Tel: +44 (0)1279 623623 Web: www.pearson.com/uk

First published in Great Britain in 2005 as Finance in a Nutshell: A no-nonsense companion to the tools and techniques of financeSecond edition 2011 (print) and 2013 (electronic)

© Pearson Education Limited 2005, 2011, 2013

The right of Javier Estrada to be identified as author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988.

The print publication is protected by copyright. Prior to any prohibited reproduction, storage in a retrieval system, distribution or transmission in any form or by any means, electronic, mechanical, recording or otherwise, permission should be obtained ...

Get The Financial Times Guide to Understanding Finance, 2nd Edition now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.