economics - Materials Degradation and Selection Economic...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Materials Degradation and Selection Economic Analysis and Calculations sources: - ASM Handbook, Volume 13 - Corrosion - The Wiley Engineer's Desk Reference, Sanford I. Heisler, John Wiley & Sons, p 387 [1984] - Engineering Design - A Materials and Ppprocessing Approach, 3rd Edition, George E. Dieter, McGraw Hill [2000]
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
- Principles and Prevention of Corrosion, Denny A. Jones, MacMillan, p 536 [1992] Interest = time value [cost] of money - Simple Interest assumes debt [principal] is paid at the end of the period with interest earned over the period I = P o ni where: I = interest P o = principal n = time [usually number of years] and, the total amount due [T] equals:
Background image of page 2
T = P o [1 + ni] - Compound Interest assumes the periodic interest payments are added to the principal and subsequent interest is earned on the resulting larger principal: Principal at end of period = P o [1 + i] n , I earned during period = P o i[1 + i] n-1 , T due at end of period = P o [1 + i] n . - Future Worth P o [1 + i] n is the Future Value of P o or F [1+i] n is an operator , here (F/P,i,n), which allows a present value [P o ] to be expressed in terms of a future value [F]:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
F = P(F/P,i,n) in ASM 13, (F/P,i,n) is designated FW values of the operator (F/P,i,n) are given in tabularized form. ... ************************************ example 1 $100,000 has been set aside by management for repairs which will be required due to environmental degradation of plant components. The funds are expected to be used in five years. How much would be available if the
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/10/2011 for the course EMA 7414 taught by Professor Mecholsky during the Spring '11 term at University of Florida.

Page1 / 14

economics - Materials Degradation and Selection Economic...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online