Fundamentals of Engineering Economics by Chan S. Park

By Chan S. Park

New from the writer of the best-selling Contemporary Engineering Economics publication, Fundamentals of Engineering Economics bargains concise, yet in-depth insurance of all primary issues of Engineering Economics. A four-part association outlines an realizing of cash and its administration, easy methods to assessment company and engineering resources, .the improvement of undertaking funds flows, and detailed subject matters in engineering economics. for people drawn to the sphere of commercial, civil, mechanical and electric engineering.

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If not, when is the right time to replace the old equipment? Replacement decision: Is it worth fixing or replacing? years, however, it may become necessary to produce the parts in plastic, which would require retiring the presses early and purchasing plastic-molding machines. Similarly. a company may find that, for competitive reasons, larger and more accurate parts are required, which will make the purchased machines obsolete earlier than expected. ) This book is focused on the principles and procedures for making sound engineering economic decisions.

Thus, the plastic would require a lower investment, but would incur higher material costs. 1-4 Fundamental Principles in Engineering Economics Should a company buy equipment to perform an operation now done manually? + - '. "4 Should a company spend money now In order to save more money later? 1 ;- + Cost-reduction decision Now is the time to replace the old machine? If not, when is the right time to replace the old equipment? Replacement decision: Is it worth fixing or replacing? years, however, it may become necessary to produce the parts in plastic, which would require retiring the presses early and purchasing plastic-molding machines.

71. 71 more than was accumulated under the simple-interest method. We can keep track of the interest-accruing process more precisely as follows: At the end of the first year, you would have $1,000 plus $80 in interest. or a total of $1,080. In effect, at the beginning of the second year. 000. Thus. 40. 40. 31. 71 at the end of year three. 29 2-2 Economic Equivalence The observation that money has a time value leads us to an important question: If receiving $100 today is not the same as receiving $100 at any future point, how do we measure and compare various cash flows'?

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