Econ
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1
analysis and evaluation of the monetary consequences using the theories and principles of economics to engineering application
Engineering Economics
2
Simple Interest Formulas
F = P+I; I = Pin
3
interest computed based on one banker's year.
Ordinary Interest
i = r/360
i = r/360
4
based on the exact number of days
Exact Interest
i = r/365 = r/366<leap year>
i = r/365 = r/366<leap year>
5
based not only on original amount but the amount of loan plus the previous accumulated interest
Compound interest
F = P(1+r/m)^(mt) I = F-P
F = P(1+r/m)^(mt) I = F-P
6
Single Payment Compound Amount Factor
(1+i)^n
7
Single Payment Present Worth Factor
(1+i)^(-n)
8
based on the assumption that cash payment occurs once per year but compounding continuously throughout the year
Continuous Compounding
F = Pe^(rt)
F = Pe^(rt)
9
describing a variety of compound interest and the number of interest periods per year
Nominal Rate of Interest(NRI)
r = im
r = im
10
actual interest earned in 1yr period
Effective Rate of Interest (ERI)
ERI = (1+[r/m])^m -1
ERI = (1+[r/m])^m -1
11
Effective rate of interest for continuous compounding
ERI = e^r - 1
12
series of uniform payments made at equal intervals of fixed time
Annuities
13
payments are made at end of each period starting from the first period
Ordinary Annuity
F = A( [1+i]^n - 1)/i
P = A(1 - [1+i]^-n )/i
F = A( [1+i]^n - 1)/i
P = A(1 - [1+i]^-n )/i
14
payments made several periods after the beginning of annuity
Deferred Annuity
F = A( [1+i]^n - 1)/i
P = A( [1+i]^n - 1)/ i(1+i)^(o+n)
F = A( [1+i]^n - 1)/i
P = A( [1+i]^n - 1)/ i(1+i)^(o+n)
15
payments made at the beginning of each period
Annuity Due
F = A( [1+i]^n - 1)/i
P = A( [1+i]^n - 1)/ i(1+i)^(n-1)
F = A( [1+i]^n - 1)/i
P = A( [1+i]^n - 1)/ i(1+i)^(n-1)
16
payments extends forever
Perpetuity
F = infinite
P = A/i
F = infinite
P = A/i
17
Calc Tech for Annuity
1) Mode-3-6
2) table= [0, 1]; [1, 1+(r/m)]
3) P = A $(B^(-x), A, B)
2) table= [0, 1]; [1, 1+(r/m)]
3) P = A $(B^(-x), A, B)
18
sum of the first cost and present worth of all future payments, assumed to continue forever
Capitalized Costs
19
General Formula for Depreciation Calc Tech
BVn = ny^
Dn = FC - BVn
dn = Dn - Dn-1
Dn = FC - BVn
dn = Dn - Dn-1
20
Capitalized Costs Formula
CC = FC + A/i + (RC-SV) / (1+i)^n - 1
21
Decrease in value of physical property due to the passage of time
Depreciaction
22
assume that the loss in value of the property is directly proportional to the age of the propery
Straight line method
23
Straight lime method Calc tech
1) mode 3-2
2) table: [time, value]; [time2, value2]
3) AC - Formula
2) table: [time, value]; [time2, value2]
3) AC - Formula
24
Sinking Fund Formula
d = (FC - SV)i / (1+i)^L -1
Dn = d([1+i]^n -1) / i
BVn = FC - Dn
Dn = d([1+i]^n -1) / i
BVn = FC - Dn
25
Constand percentage/ Matheson Formula
Declining Balance
26
Declining Balance Calc Tech
1) Mode 3 6
2) table: [0, FC], [L, SV]
3) Formula
2) table: [0, FC], [L, SV]
3) Formula
27
like DBM but use 2/L to replace the rate of depreciation k
Double Declining Balance
28
Double Declining Balance Calc Tech
1) Mode 3 6
2) tabele: [0, FC], [l, FC(1 - 2/L)^L]
3) Formula
2) tabele: [0, FC], [l, FC(1 - 2/L)^L]
3) Formula
29
assumes depeciation change vary directly to the number of yrs and inversely to the sum of the year's digit
Sum-of-the-year's Digits
30
Sum-of-the-year's Digits Calc Tech
1) Mode 3-3
2) table: [time, value], [time2, value2], [time3, value3
3) Formula
2) table: [time, value], [time2, value2], [time3, value3
3) Formula
31
cost exactly equal revenue(break even point)
Break-even Analysis
income = expenses
income = expenses
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