Banking formulae

Elena S. Prassas, Roger P. Roess

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

As discussed in the chapter 1, it is useful, as a background to studies of transportation economics, to have a good understanding of the principles of engineering economy, which is extensively treated in the literature [1-4], and of basic banking (compounding) formulae. A study of the methods for handling time differences in the comparison of various project costs (including initial costs, recurring costs, etc) is essential. Every engineer who is called upon to make engineering studies involving cost analysis should be familiar with the following derivations of mathematical formulas used in converting costs that are dissimilar in time to comparable bases. Without these conversions, it would be impossible to compare costs occurring in the future with costs that occur now.

Original languageEnglish (US)
Title of host publicationSpringer Tracts on Transportation and Traffic
PublisherSpringer International Publishing
Pages7-27
Number of pages21
DOIs
StatePublished - 2013

Publication series

NameSpringer Tracts on Transportation and Traffic
Volume3
ISSN (Print)2194-8119
ISSN (Electronic)2194-8127

ASJC Scopus subject areas

  • Transportation
  • Urban Studies
  • Strategy and Management

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  • Cite this

    Prassas, E. S., & Roess, R. P. (2013). Banking formulae. In Springer Tracts on Transportation and Traffic (pp. 7-27). (Springer Tracts on Transportation and Traffic; Vol. 3). Springer International Publishing. https://doi.org/10.1007/978-3-642-38580-3_2