EGR 100 Chapter Notes - Chapter 13: Engineering Economics, Life-Cycle Assessment, Life Insurance
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Labor costs: includes payments to the employees who build the designed device, as well as to support staff (shipping, packaging,etc. : also includes indirect costs, or fringe benefits. In practice, each engineering discipline has its own approaches to cost estimating that are captured by general guidelines executives, advertising costs, etc. company in question. 13. 1. 3 the cost of design and the cost of the designed device. In some cases, a company may spend a large amount of money designing a device to then sell a large number of them for much less. Where v f is the future value of the money, v p is the present value of the money, and r is the discount rate expressed in percent. We can also work this the other way, asking how much we need today to have a certain amount a year from now: We can also use this equation to look at a mixture of costs over several time periods as well.
