By Elena S. Prassas
This textbook offers a basic evaluation of the applying of engineering financial rules to transportation infrastructure investments. simple concept is gifted and illustrated with examples particular to the transportation box. It additionally experiences the background of transportation finance, in addition to present tools for investment transportation investments within the U.S. destiny difficulties and capability ideas also are mentioned and illustrated.
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Example text
While nothing is ever truly “infinite,” numerically, the interest factors rapidly approach values for an infinite period whenever the actual time period is 100 years (or periods) or longer. 3 Methodologies for Engineering Economic Comparisons The formal procedures for conducting engineering economy studies are mathematically founded on the basic banking principles discussed previously. 3 Methodologies for Engineering Economic Comparisons 41 economic comparisons, and in particular, those involving transportation projects and alternatives, involve other considerations as well.
Example Problem 2: A Highway Repaving Project Construction of a new pavement will result in a savings of 5 cents per vehiclemile in operating costs to each user of the road. If the AADT (Average Annual Daily Traffic) for the segment of highway to be repaved is 2,000 veh/day, and the new pavement has a service life of 25 years, what maximum expenditure per mile of highway can be justified for the construction of the surface? Interest is estimated to be 4%. Answer: As in the previous problem, the solution is essentially the present worth of the future benefits to be derived from the proposed resurfacing.
If the AADT is 8,000 veh/day, how much can be justifiably spent on reconstruction of the grade? Interest is estimated to be 4%. 36 3 Use of Banking Formulae in Engineering Economics Answer: As in most problems of this type, the answer is the present worth of the annual savings over the life of the investment. A grade is a sufficiently permanent structure to be considered as having an infinite service life. 03/veh-mile for a virtually infinite period of time. 04 The highway agency is justified in spending up to $4,380,000 re-grading the roadway, which will result in a permanent reduction in annual road user costs of $175,200.