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
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interest computed based on one banker's year.
Ordinary Interest
i = r/360
i = r/360
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based on the exact number of days
Exact Interest
i = r/365 = r/366<leap year>
i = r/365 = r/366<leap year>
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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
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Single Payment Compound Amount Factor
(1+i)^n
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Single Payment Present Worth Factor
(1+i)^(-n)
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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)
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describing a variety of compound interest and the number of interest periods per year
Nominal Rate of Interest(NRI)
r = im
r = im
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actual interest earned in 1yr period
Effective Rate of Interest (ERI)
ERI = (1+[r/m])^m -1
ERI = (1+[r/m])^m -1
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Effective rate of interest for continuous compounding
ERI = e^r - 1
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series of uniform payments made at equal intervals of fixed time
Annuities
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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
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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)
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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)
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payments extends forever
Perpetuity
F = infinite
P = A/i
F = infinite
P = A/i
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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)
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sum of the first cost and present worth of all future payments, assumed to continue forever
Capitalized Costs
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General Formula for Depreciation Calc Tech
BVn = ny^
Dn = FC - BVn
dn = Dn - Dn-1
Dn = FC - BVn
dn = Dn - Dn-1
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Capitalized Costs Formula
CC = FC + A/i + (RC-SV) / (1+i)^n - 1
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Decrease in value of physical property due to the passage of time
Depreciaction
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assume that the loss in value of the property is directly proportional to the age of the propery
Straight line method
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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
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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
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Constand percentage/ Matheson Formula
Declining Balance
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Declining Balance Calc Tech
1) Mode 3 6
2) table: [0, FC], [L, SV]
3) Formula
2) table: [0, FC], [L, SV]
3) Formula
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like DBM but use 2/L to replace the rate of depreciation k
Double Declining Balance
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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
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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
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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
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cost exactly equal revenue(break even point)
Break-even Analysis
income = expenses
income = expenses
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