Basics of Engineering Economy by Leland Blank, Anthony Tarquin

By Leland Blank, Anthony Tarquin

This article covers the elemental concepts and functions of engineering economic system for all disciplines within the engineering occupation. The writing type emphasizes short, crisp assurance of the primary or method mentioned to be able to decrease the time taken to offer and seize the necessities. the target of the textual content is to give an explanation for and exhibit the foundations and strategies of engineering monetary research as utilized in numerous fields of engineering. This short textual content comprises assurance of a number of characteristic evaluate for teachers who are looking to comprise non-economic dimensions in substitute assessment and the dialogue of probability concerns within the appendix, in comparison to Blanks complete textual content, the place those subject matters are mentioned in distinct chapters.

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Refer to Appendix A for more information on the FV and PV functions. 1 Single-Payment Formulas (F/P and P/F ) An engineer received a bonus of $12,000 that he will invest now. He wants to calculate the equivalent value after 24 years, when he plans to use all the resulting money as the down payment on an island vacation home. Assume a rate of return of 8% per year for each of the 24 years. Find the amount he can pay down, using the tabulated factor, the factor formula, and a spreadsheet function.

8 million, what rate of return per year did the company make on the basis of (a) simple interest and (b) compound interest? 23 How many years would it take for money to triple in value at 20% per year simple interest? 24 If Farah Manufacturing wants its investments to double in value in 4 years, what rate of return would it have to make on the basis of (a) simple interest and (b) compound interest? 25 Companies frequently borrow money under an arrangement that requires them to make periodic payments of “interest only” and then pay the principal all at once.

2. When using the F͞A or A͞F factors, the F and the last A value are in the same interest period. 3. The n in the uniform series formulas is equal to the number of A values involved. 4. Arithmetic gradients change by a uniform amount from one interest period to the next, and there are bLa01293_ch02_027-058 50 9/4/07 12:22 PM Page 50 Chapter 2 Factors: How Time and Interest Affect Money two parts to the equation: a uniform series that has an A value equal to the magnitude of the cash flow in period 1 and the gradient that has the same n as the uniform series.

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