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**Present Worth Analysis
**

Solutions to Problems

5.1 A service alternative is one that has only costs (no revenues).

5.2 (a) For independent projects, select all that have PW ≥ 0; (b) For mutually

exclusive projects, select the one that has the highest numerical value.

5.3 (a) Service; (b) Revenue; (c) Revenue; (d) Service; (e) Revenue; (f) Service

5.4 (a) Total possible = 25 = 32

(b) Because of restrictions, cannot have any combinations of 3,4, or 5. Only 12 are

acceptable: DN, 1, 2, 3, 4, 5, 1&3, 1&4, 1&5, 2&3, 2&4, and 2&5.

5.5 Equal service means that the alternatives end at the same time.

5.6 Equal service can be satisfied by using a specified planning period or by using the

least common multiple of the lives of the alternatives.

5.7 Capitalized cost represents the present worth of service for an infinite time. Real

world examples that might be analyzed using CC would be Yellowstone National

Park, Golden Gate Bridge, Hoover Dam, etc.

5.8 PWold = -1200(3.50)(P/A,15%,5)

= -4200(3.3522)

= $-14,079

PWnew = -14,000 – 1200(1.20)(P/A,15%,5)

= -14,000 – 1440(3.3522)

= $-18,827

Keep old brackets

5.9

**PWA = -80,000 – 30,000(P/A,12%,3) + 15,000(P/F,12%,3)
**

= -80,000 – 30,000(2.4018) + 15,000(0.7118)

= $-141,377

Chapter 5

1

PROPRIETARY MATERIAL. © The McGraw-Hill Companies, Inc. All rights reserved. No part of this Manual may be

displayed, reproduced or distributed in any form or by any means, without the prior written permission of the publisher, or used

beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. If you are

a student using this Manual, you are using it without permission.

126.000(P/F.000 – 8. .656 PWdual = -224.12%.000(2.4018) + 40.315 PW = -0.10%.PWB = -120.15%.13 PWJX = -205.4323) = $-1.3) + 10.000(0.0.000(0.000(0.000(P/F.149 PWsite = $-15.000(P/A. without the prior written permission of the publisher.000 – 29. If you are a student using this Manual.000 – 29.182.000(3.10%.1699) – 203.000(P/A.000(P/A.000 – 8.000(P/F.000(P/F.11 PWsingle = -4000 .6) – 140.315(P/A.5%.000(0.40)(30) = $24.000(0.000 –235.6) –26.00(P/A.5718) + 50.927 Select material KZ Chapter 5 2 PROPRIETARY MATERIAL.10 Bottled water: Cost/mo = -(2)(0.6189) = $-3.000(3.742 Select Method B 5. No part of this Manual may be displayed. Inc.00 PW = -24.4) = -235.000 –235.4000(3.000(P/F.15%.6189) = $-278.00(11.15%.1699) + 20. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. you are using it without permission.5%.000 – 231.15%.7845) – 140.12%.0373) = $-16.000(P/F.4) = -4000 . All rights reserved.6) = -250.12%.000(3.10%.000(3.000 – 27.7118) = $-110.66 5. reproduced or distributed in any form or by any means.12 PWvariable = -250.7845) –26.15%.4323) = $-1.315(11.4) + 20.4000(P/A.15%.12) = -0.4) + 50.0.85 Municipal water: Cost/mo = -5(30)(2. © The McGraw-Hill Companies.3) + 40.2) + 2000(P/F.10%.6830) = $-463.12) = -24.000 – 27.000(0.130 Select dual speed machine 5.320 PWKZ = -235.6575) + 10.000 Buy the site license 5.3) = -120.000(0.10%.000(P/F.4) = -205.10)/1000 = $0.000(P/A.6830) = $-306.000(P/A.4) – 203.8264) + 2000(0.000 – 231.6) = -224.

© The McGraw-Hill Companies.10%.000 – 7000(P/A.6830) = $-305.000(P/A.572.1. Inc.000.5645) = $-231.10%.09% PWA = -1.09%.000(P/F.000 – 500.000 – 12. you are using it without permission.16) –120.8) + 40.000(0.000.000(P/A. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.2%.6410) = $-19.550 Select plan C 5.000 – 5000(13.14 PWK = -160.000(4.950 Select process L 5.000 – 5000(P/A. .600(1.5.000(9.3%.6) – 95.75.10) = -1.000(0.000(0.5777) + 26.10%.818 Install power line Chapter 5 3 PROPRIETARY MATERIAL.000(0.15 PWplastic = -75.3553) – 95.500.75.000 – 600.000 .500.4) = -12.75.10%.7284) = $-258.8885) – 1.3553) .4) = -75.8535) + 40.000(4.000(P/F.6410) = $-24.2%.151. No part of this Manual may be displayed.3%.000 – 7000(13.3) + 30.2%.8264) .000(P/F.000(P/F.6) .000 .000 – 12.5777) –120.560 PWC = -1.945 FWline = -11.4641) – 1400(4.7441) = $-3.7513) + 30.2) .2021) (by equation) = $-5.27.000(0.17 FWsolar = -12.2%.16) + 26.27.03)2 – 1 = 6. All rights reserved.202.000(P/F.10%.16 i/year = (1 + 0.4) – 1400(F/A.328 PWL = -210.3%.000(P/F.702 Use aluminum case 5.000(P/A.10%.7284) = $-328.4) = -11.1.000 .4) – 800(F/P.600(F/P.10%.16) = -210.000.10%.000(P/F.000(0.000(0.3%.500.000(P/F.798 PWaluminum = -125.4641) – 800(4.500.100 PWB = -600.2526) = $-6.10%.000 .16) = -160.000(0.8375) – 500.000 – 500.4) – 1. reproduced or distributed in any form or by any means.10%.000(4.000.000(F/P.000(P/F.6) = -125.000(P/A.6) . without the prior written permission of the publisher.5) = -1.000 – 600.11) = -600. If you are a student using this Manual.75.000(0.000(P/F.500.000(1.2%.000(0.6.

000(8.000 = $-176.000(F/A.6) + 65.000(F/P.1520) – 3500(1.625 FWgold = -6500(F/P. © The McGraw-Hill Companies.74 20% standard is slightly more economical 5.5487) = $-9.005 Select Plan B Chapter 5 4 PROPRIETARY MATERIAL.000(F/A.10%.725.000 = -150.52 FW35% = -240(F/P.1520) = $-16. Inc.200.15) = -100(4.15%.1058) – 900.0303) = $-19.000(2.000(F/A.1%. If you are a student using this Manual.15) – 65(F/A. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.1%.200. reproduced or distributed in any form or by any means.12%.12%. without the prior written permission of the publisher.7537)(1.6) = -7000(1.1%.12%.19 FWpurchase = -150.1%.6) – 3500(F/P.6) –1200(F/A.1058) – 200.7725) = $-2959. . you are using it without permission.5487) = $-16.6) –1500(F/A.1%.000(F/P.000(3.000(8.000(F/A.1) = .6) –2000(F/A.000(F/A.6) = -6500(1.10%.000(3.003 Purchase the clamshell 5.3) = -3500(1.30.15) – 80(F/A.000(F/P.5.15%.128 FWtitanium = -7000(F/P.15%.15) = -240(4.921 FWlease = -30.21 FWA = -300. All rights reserved.000(17.10) – 200.0615) –2000(6.1%.15%. No part of this Manual may be displayed.7537) + 65.6) + 12.3131) + 12.1%.10) – 150.1520) = $-14.10%.10%.7725) = $-3067.813 Use titanium nitride bits 5.000(17.1772) – 65(31.0615) –1500(6.0615) –1200(6.000(17.12%.12%.869.1772) – 80(31.20 FWHSS = -3500(F/P.15) = $-302.18 FW20% = -100(F/P.6)(F/P.10) = -1.10) = -300.570 FWB = -1.5487) – 150.10) – 900.

538 5.12%.48544)/0.4)] = [-82.08 = -250. © The McGraw-Hill Companies.17046)/0.4) – 9000 +15.41 CC = -32.0373)(0.08 – [950.000/0.000/0.000 – 350.06 =$-3.000(A/F.5674) = $-456.858.6%.000(0.08 – [950.12%.000(0.000 – 800.000(0.000(A/F.12])P/F.10%.000 – 25.12%.75. . AWA = -50.5)/0.000(3.933 5.22 CC = -400.8%.000(P/F.10%.000(A/F.000 – 800.1. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.000.000/0.25 CC = -250.308 5.000(0.5.06903)]/0.06 = -400.000(A/F. and divide by i.000 – 25.08 = $-251.10) = -100.26 Find AW and then divide by i.700.8929) – [40. reproduced or distributed in any form or by any means.12])(0.000 – 400.8%.000.08 = $1.532.000 – 400.16380) = $-8190 AWB = -100.28 Find AW of each plan.150 Chapter 5 5 PROPRIETARY MATERIAL. AW = [-82.979.700.23 CC = -1.636.8%.10 = $19.000 (b) P0 = 1.6%. without the prior written permission of the publisher.12 = $-273.27 (a) P29 = 80.000.000(A/F.267 5.08 -75.000(A/F.000(0.06275) = $-6275 CC of difference = (8190 .10)]/0. If you are a student using this Manual.000(A/F.12%.858.000/0.41/0.000(0.000(0.000(P/A. you are using it without permission.1) – [40.12%.000(0.24 CC = -200.32923) – 9000 +15. No part of this Manual may be displayed.2)/0.000(0.3)/0.000 – 350.5) = -200.820 5. Inc.000(A/P.4)(P/F.20923)]/0. All rights reserved.000/0.000.08 .31411)/0. then take difference.6275)/0.300 5.06 = .12 = $-32.5) = -50.000.06 = $-3.29) = 1.1073) = $107.

03 = $-347.01](0.30 CCpetroleum = [-250.6)]/0.333 Select alternative G.350.5.000(A/F.22961) –130.10%.000 + 50.000/0.11246)]/0.000 + 50. © The McGraw-Hill Companies.000(P/A.000(A/P.21547)]/0.000(A/F.538.000 – 50.01](P/F.3%.03 = [-300.8)]/0.000 – 10.000 + 20.000 + 70. 5.2551) – 100.000 – 500.10%. If you are a student using this Manual.31547) – 65.000.31 CC = 100.00226)]/0.000/0.000(0.10 – [50.130.000(0.000(0.000/0.12) – 100.000 + 20.32 CCpipe = -225.700 CCF = [-300.000 – 10. .000 + 50.000 + 50.4) – 65.000(0. Chapter 5 6 PROPRIETARY MATERIAL.000.03 = $237. Inc.500 5.3%.10 – [50.190.03 = $433.14246) + 30.077 Petroleum-based alternative has a larger profit.000(A/P.12961)]/0. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.000(A/P.10%.7798) = $-8.000(11.000.000 CCcanal = -350.000(A/P.13)(P/F.000 + 70.000(A/F.000 5.29 CC = -3.000.16) + 10.000(12.000(0.1%.10%.8874) . All rights reserved.000/0.000.03 = [-200.12) .000.746.10 = $1.000 + 40.[50.000(P/A.40)]/0.10 = $-326.8) + 30.33 CCE = [-200. reproduced or distributed in any form or by any means.000.1%.010 CCG = -900.10 = -225.4)]/0.000/0.000 + 400.6) –130.000 Build the pipeline 5.10 = [-250.000(A/F.3%.[50.000(0. No part of this Manual may be displayed.780 CCinorganic = [-110.000 + 400.04961)]/0.08 = $1.1%.000(0.000 + 270.000/0. you are using it without permission.10%.3%.10 = $2.000(0.000(A/F.07961) + 10.000 – 50.000 + 270.000.000.1%.25) = -3.000/0.1337)(0.10 = $-355.000 + 100.16)]/0. without the prior written permission of the publisher.000(0.000.10 = [-110.

36 0 = .000(P/A.558 n is between 7 and 8 years Chapter 5 7 PROPRIETARY MATERIAL.000 + 10.38 0 = -70.n) = 14.n) = 5. All rights reserved.8%.000 + 60.000/(22.10%. 5.000) = 7 years (b) 0 = -35.6 years.000 + (22. therefore.n) (P/A. 5. 5. 5.000 n is 18.000 – 1850)(P/A.n) Try n = 9: 0 ≠ +1483 Try n = 8: 0 ≠ -1198 n is between 8 and 9 years 5.000(P/A.8%.n) (P/A.000 – 17.000 + (3500 – 2000)(P/A. AW.703 > 100. reproduced or distributed in any form or by any means. Inc.000 Try n = 18: 98.35 The alternatives that have large cash flows beyond the date where other alternatives recover their investment might actually be more attractive over the entire lives of the alternatives (based on PW. n = 13 years.000(P/G. © The McGraw-Hill Companies.6667 n is between 22 and 23 quarters or 5.n) + 15.0000 n is between 6 and 7 years Alt B: 0 = -300.41 Payback: Alt A: 0 = -300. No part of this Manual may be displayed.3 months or 1.000 + (14.000 – 500n + 250. without the prior written permission of the publisher.34 No-return payback refers to the time required to recover an investment at i = 0%.000)(P/A.n) = 7.8%.10%.573 Try n = 8: 0 < +24.000 Try n = 19: 104.n) (P/A.n) Try n = 7: 0 > -37.000(1 + 0.5.062 < 100.4%.75 years 5. If you are a student using this Manual.0000 n is between 12 and 13. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.40 –250.02)n = 100.n) + 8000(P/F. .76132 n is between 9 and 10. 5.10%. it would take 10 years.10%.n) = 5. you are using it without permission.n) (P/A.8%.40. or other evaluation methods).39 (a) n = 35.000 – 17.8%.8%. therefore.000 + 6000(P/A.4%.37 0 = -22.

000 + 60.7(P/A.5) -3.000(P/G.5(0.5) – 14.000[(0.1(P/F.5(P/F.240) = -1. If you are a student using this Manual.000(P/A.8%.42 LCC = -6.000 + 60. .5%.9927) = $-1.6%.2) -50.7%.15)(P/F.7(0.0.5(P/F.36(9.8%.7%.5) .921 5.6(0.8163) – 18.7%.860 5.7130) .3.658.000 – 150.9346) – 2.0.5) = -250.180)] = -750.517 Chapter 5 8 PROPRIETARY MATERIAL. which is not accounted for in payback analysis.3121) – 45.421 LCCB = -1.7%.710.5808) – 150.6%.0(0.000(P/A.1 – (4000)(139.21.17(P/A.7(2.43 LCC = – 2.3)(P/F.10) – 30.5%.7629) .10) .0(P/F.7473) -3.6(0.2.000 – (6000 + 2000)(P/A.7101) + 15.3166) = $-151.120) + (P/F.000(3.7101) = $102. 5.10) + 15.3.8734) – 9.5)(P/F.2(7.9434) – 2.8%.3) – 18.000(P/A.7101) – 30.000 + 10.5584) .9768) = $156.240) – 150.753 Select B Income for Alt B increases rapidly in later years.309.6 – 3.000(3.2) – 7.10) = .8%.7414) + (0. © The McGraw-Hill Companies.18) = – 2.2.8%.323 Select proposal B.5808) = $-1. Inc.5%.5%.8%.6(P/F.6%.4) .6(P/F.0.000[(P/F.3) – 10.60) + (P/F.3(0.6%.0. No part of this Manual may be displayed.000(P/A.8900) – 7.000(P/A.000(25. All rights reserved.7833) -50.4075)] = $-2.7921) -6.000(P/A.5496) + (0.7%.1) – 2.10) = -300.7%.5) – 1.1 – (3000 + 1000)(P/A.4) – 45.10) .000(6.6(0.10)(P/F.6243)(0.000(6.000 + 10.8%.4) -6.5083) .2(P/A.1(0.6 – 3.1002)(0.7%. without the prior written permission of the publisher. you are using it without permission.121.3503) = $-36. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.7%.7%.0(P/F.000 – 150.7(P/F.606 Alt B: PW = -300.6%.000(1.6%.000 – 35.7130) – 14.6%.17(4.0(P/F.45 LCCA = -250. reproduced or distributed in any form or by any means.5(0.3(P/F.000.0.6(P/F.6%.0236)(0.Select A PW for 10 yrs: Alt A: PW = -300. 5.5%.36(P/A.7473) – 1.17) = -6.1) – 2.0(0.5(P/F.000 – (8000)(139.000 – 35.7122)(0.5(0.300.000(6.7%.21.8396) – 10.44 LCCA = -750.6%.0(0.7%.2) – 9.

8%.000(2.8%.7609) + 50.LCCB = -10.3) – 80.000(6.10) = -10.2%.2%.10) . reproduced or distributed in any form or by any means.000. Therefore.40.52 I = (V)(0.000. Inc.60) Try V = 226.000(P/A.000 < 201. without the prior written permission of the publisher.4%.07)/2 201.620 5.40.50 I = (50. 5.04)/4 = $500 every 3 months PW = 500(P/A.000.08)/2 = $200 every 6 months PW = 200(P/A.000 .47 800 = (V)(0.34) + 5000(P/F.7101) = $-937.5771) – 80.174.06)/4 = $150 every 3 months 5.3048) = $32. If you are a student using this Manual.10) = -175.000(6. I = 5000(0.34) = 200(16.000)(b)/2 b = 15% 5.000: 201.000)(0.000(P/A.000 – 45.60) + V(P/F.444.5%.58 5.485 Try V = 227.525 LCCC = -175.60) = 500(34.000.000 – 45. PW = face value = $50.8%.000: 201.000(P/A.8%.000(0.1929) + 5000(0.5%. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.000.7101) .000(P/A.60) + 50.000(P/F.51 There are 17 years or 34 semiannual periods remaining in the life of the bond.000 5. .04)/2 V = $40.1904) = $4190.000 > 200.000 = I(P/A.000 .000(0. No part of this Manual may be displayed.331.46 I = 10. All rights reserved.4%. you are using it without permission.49 Bond interest rate and market interest rate are the same.30.000(6.30. 5.000.48 1500 = (20. © The McGraw-Hill Companies.268 Select alternative B.7101) = $-1.408 Chapter 5 9 PROPRIETARY MATERIAL.

3553) .000(P/F.000 + 10.000(4.000 –10.5645) = $-114.6) .10%.60) + 50. Inc.000(0.10%.60 CCX = [-66.10%.22.000(4.22.000(0.10%.20) + 67.000 –15.7609) + 50.10%.381 = $107. you are using it without permission.15) = $173.10%.4) = $273.000 + 10.6)]/0.20)(A/F.000(0.60) = 1500(34. © The McGraw-Hill Companies.55 PW = 50.582 Answer is (d) Chapter 5 10 PROPRIETARY MATERIAL.687 [PW in year 5 from (a)] FE Review Solutions 5. .381 (b) Total = 1500(F/A.By interpolation.10 = [-66.000 + 10.56 CC = [40.3048) = $67.941 Answer is (c) 5.3%. If you are a student using this Manual.22961) – 10.000)(0.000/0.5645) = $-103.8704) + 67. All rights reserved.000(0. reproduced or distributed in any form or by any means.000(P/A.000(0.10%.10%.10%.381 = 1500(26.58 PWX = -66.6) – 10.3553) + 10.10%.340 5. PW5 then is: PW5 = 1500(P/A.000(P/F.10](P/F.7513) + 24.6) = -46.10) = $4662.000/0.59 PWY = -46.000(P/F. No part of this Manual may be displayed.310 Answer is (d) 5.15) + [20.2%.10 = $-238. without the prior written permission of the publisher.12961)]/0.000 –10.10](P/F.000/0.200 Answer is (c) 5.2%. V = $226.10%.33 Answer is (b) 5.10](P/F.000 –15.6) + 10.12)/4 = $1500 Five years from now there will be 15(4) = 60 payments left.000(0.6) = -66.54 Answer is (b) 5.000(P/A.53 (a) I = (50. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.626.000(A/F.3) + 24.000(P/A.57 CC = [50.10%.908 Answer is (c) 5.000(A/P.000(P/F.

000(0.5)/0.10 = -10.62 Answer is (c) 5.26380)/0.000(A/P. without the prior written permission of the publisher.10%. If you are a student using this Manual. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.380 Answer is (b) 5. © The McGraw-Hill Companies.65 Answer is (b) Chapter 5 11 PROPRIETARY MATERIAL.5. Inc. reproduced or distributed in any form or by any means.10 = $-26.64 Answer is (a) 5. you are using it without permission.63 Answer is (b) 5. .61 CC = -10. All rights reserved. No part of this Manual may be displayed.

you are using it without permission. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. 3 and 4: Chapter 5 12 PROPRIETARY MATERIAL. without the prior written permission of the publisher. Inc. If you are a student using this Manual. © The McGraw-Hill Companies. .Extended Exercise Solution Questions 1. No part of this Manual may be displayed. All rights reserved. reproduced or distributed in any form or by any means.

without the prior written permission of the publisher. All rights reserved. Inc.Question 2: Chapter 5 13 PROPRIETARY MATERIAL. . No part of this Manual may be displayed. If you are a student using this Manual. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. you are using it without permission. reproduced or distributed in any form or by any means. © The McGraw-Hill Companies.

Inc. Chapter 5 14 PROPRIETARY MATERIAL.1(0. the payback period is much more sensitive to the toilet life than to the interest rate. n is between 30 and 36 months By interpolation. cost/month = 76.1 + 2.6 years is required at 0% and longer times would be required for i > 0%).1 + 2.898 (A/P.75%. you are using it without permission.n) = 2.5 years.47/4.0. If the toilet life were to decrease by 50% to 2.9 years 2. Therefore.10/1000 gallons.03230 From 0.2 = $0.5%.0. . then the homeowner would not breakeven at any interest rate (2.2 cost/CCF = 1.47/1000 gallons (vs $0.n) = 2.0. without the prior written permission of the publisher.47 CCF/month = 2.40/1000 gal at 75% rebate) This is still far below the city’s cost of $1. reproduced or distributed in any form or by any means. except with varying interest rates.01933) = $1.60) = 76.71(A/P.0. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation.9 years (per above solution) to a little less than 3.46/CCF or $0.1 = 4.75%. Set first cost of toilet equal to monthly savings and solve for n: [(115.75% interest table.25% interest table).83 – 76. No part of this Manual may be displayed.62) 89.12) + 50](A/P. 3. the cost to the city at 0% interest is c= 115.76 + 0. (b) Use the same relation for cost/month as in question 3 above.n) = 0.Case Study Solution 1.61/1000 gal (vs $0. Therefore. the payback period would increase from 2.40/1000 gallons at 0% interest) 4.1) (12) (5) = $0. n = 35 months or 2.12 (A/P. the success of the program is not sensitive to the percentage of cost rebated.12 (0. the values shown in the table below are obtained for n = 5 years.35/CCF or $0.83 (2.3 years (from 1. All rights reserved. If the interest rate were to increase by more than 50% (say from 9% to 15%).75%. If you are a student using this Manual. (a) If 100% of the $115.83 cost of the toilet is rebated. © The McGraw-Hill Companies.

the cost of the program exceeds the savings at all interest rates above 4.Interest Rate.57 0.4 5 6 0.40 8 0.39 12 0. reproduced or distributed in any form or by any means. Therefore.8 0 1. years $ / CCF $/1000 gal 2 0.10/1000 gallons. compounded monthly. (c) Use the same equation as in question 3 above with i = 0.20 15 0. Above 8% per year.3 2 10 0.35 8 0. But the cost decreases rapidly as life increases.74 0. the program’s success is not sensitive to interest rates.40 15 0.58 The results indicate that even at an interest rate of 15% per year. the costs and savings are equal.0 7 3 0.55 4 0. without the prior written permission of the publisher. or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. These calculations reveal that at very short toilet lives (2-3 years).51 0.27 0.37 10 0. % $ / CCF $/1000 gal 4 0. which is very close to the savings of $1. Chapter 5 15 PROPRIETARY MATERIAL.2 4 0. the program would not be cost effective for a 2-year toilet life at the 75% rebate level.30 0.17 For a 2-year life and an interest rate of a nominal 6% per year.43 0. Therefore.10/1000 gallons.35 6 0.3 3 0.07/1000 gallons. Inc.5% per month and varying life values. you are using it without permission. the cost at $0.5% per year for a toilet life of 3 years.13 0. .43 5 0. All rights reserved.20 0.47 0. the following results are obtained. No part of this Manual may be displayed. the cost of the program is $1. there are some conditions under which the program will not be financially successful. If you are a student using this Manual. At an interest rate of 8% per year.49 0.47 0. When the rebate is increased to 100%. If further sensitivity analysis is performed.54 0.58/1000 gallons is significantly below the city’s cost of $1. Life. © The McGraw-Hill Companies. it can be concluded that the program’s success is mildly sensitive to toilet life.15 20 0.

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