t*

APPENDIX A
ii

DISCRETE INTEREST, DISCRETE }ALUE FACTORS

Discrete Compounding Interest Factors, i = VzTo to i - 2007c

S, r:glc Payn;ent Coinpor:nd

A;l;.,u;rt Factor = F/pi,n = (r + i)'l

= p/Fi,n
1
S:rrgle Pal,ment Present
\v\brlh Factor (r + i)n

Unilbrrn Series Compound

F/Ai., _
(t+r)n-r
=
Al:'rouirt Factor i
i
Sirking Fund Deposit Facror = A/Fi,n
(r+t)n-r

Capital Recovery Factor = A/pi,,, _ i(r+i)n

(r+i)n-r
Uniform Series Present = P/Ai,n _(r+i)n-r
\\'orth Factor i(r + t)n

Arithrnetic Gradient = A/Gi,n

Series Factor i(r*i)n-r

649
 650
Economic Evaluation and lnvestment
Decision Methods

i= 0.50clo
n FlPi,n P/Fi,n ,, F/Ai,n A./Fi,n A./pi,n P/Ai,n A./Gi,n
I 1.0050 0.9950 1.0000 1.00000
1.0100 1.00s00 0.99s0
3 i.0151
0.990r 2.0050 0.49875 0.50375 L985
nla
4
0.9851 3.0150 033167 0.33667 2.9702
1 0.4988

5
1.0202
1.0253
0.9802 4.0301 0.24813 0.25313 3.9505
0.9967
0.9754 5.0503 0.19801 0.20301 4.9259
1.4938
1.9900
6
7
1.0304 0.9705 6.0755 0)6460 0.16960 5.8964
8
1.0355 0.9657 7.10s9 0.14073 0.14513 6.8621
2.4855

9
1.0107 0.9609 8.1414 0.12283 0.12783 7.8230
2.9801

10
1.0459
1.0511
0.9561 9.182t 0.10891 0.11391 8.7't91
3.4738
0.9s 13 10.2280 0.09777 0.ta277 9.7304
3.9668
4.4589
11 1.0564 0.9466 11.2792 0.08866
t2 1.0617 0.9419 12.3356 0.08107 0.09366 . 10.6770 4.9501
13 1.0670 0.9372 13.3972 a.07464 0.08607 I1.6189 5.4406
t4 1.0723 0.9326 14.4642 o.o69t4 0.07964 12.5562 5.9302
15 1.0777 0.9279 15.5365 0.06436 0.07414 13.4887 6.4190
0.05936 . 14.4166 6.9069
16 1.0831 0.9233 16.6142 0.06019
t7 1.0885 0.9187 17 .6973 0.056s
0.06519 15.3399 7.3940
r8 1.0939 1 0.061s 1 16.2586
t9 1.0994
0.9141 18.7858 0.05323 0.05823 17.1728
7.8803
20 1.1049
0.9096 19.8797 0.05030 0.05530 18.0824
8.3658
0.9051 20.9'791 0.04767 0.05267 18.9874
8.8504
9.3342
2t 1.1 104 0.9006 22.0840 0.04528
)) 0.05028 19.8880
23
1.1 160
t.t2t6
0.8961 23.1944 0.0431 I 0.04811 20.7841
9.8172
21 1.1272
0.8916 24.3104 0.04r l3 0.04613 21.67 57
10.2993
25 1.1328
0.8872 25.4320 0.03932 0.04432 22.5629
10.7806
0.8828 26.5591 0.03765 0.0426s 23.4456
I 1 .2611
11.7407
26
27
r
1412
385 0.8784 27.6919 0.0361 I 0.041r I 24.3210
28
0.87,10 28.8304 0.03469 0.03969 25. I 980
12.2195
29
1499 0.8697 29.9745 0.0.r3-36 0.03836 26.0677
12.6915
30
I 556
1614
0.86_s3 _l I. t2_ll 0.0-1: l.l 0.0371 3 26.9330
t3.17 47
0.86 r0 32.2800 0.03098 0.03598 27.7941
13.65 t0
14.1265
35
36
1.1907
1.1967
0.8398 38.t4s4 0.02622 0.03122 32.A351
_10
1.2208
0.83s6 39.3361 0.02512 0.03042 32.8710
16.49 I 5
0.8191 44.1588 t6.9621
,15 1.2516 0.02265 0.0276s 36.1722
50 1.2832
0.1990 50.3242 0.01987 0.02487 40.2072
18.83-59
o 77q? 56.64s2 21.1595
0.01765 0.0226s 44.1428 23.4624
55
60
I .3156
r.3489
0.7601 63. I 258 0.01584 0.02084 47.9814
65 r.3829
0.74t4 69.7700 0.01433 0.01933 51.7256
25.7 447

70 1.4178
0.72.3t 76.s821 0.01306 0.01 806 5s.3775
28.0064
75 1.4536
0.7053 83.5661 0.01t97 0.01697 58.939.1
30.2475
0.6879 90.7265 0.01102 0.01602 62.4136
32.4680
31.6679
80 1.4903
85 r.5280
0.6710 98.0677 0.01020 0.01520 65.8023
90
0.65.15 I05.5943 o.oo947 0.0t447
36.8474
I.-5666 0.6383 I I3.3109 0.0088 3 69.107 s 39.0065
95 r.6061 0.01383 12.3313
100
0.6226 121.2221 0.0082s 0.01325 75.4757
41.14-5 I
1.6167 0.6013 129.3337 0.0077.1 43.2633
0.01273 78.5426 45.3613
 Appeniiix A: Discrete lnterest, Discrere Value Factors
651

i= i.$AVo

n .['/Pi,n PlFi,n F/Ai,n A/Fi,n A/Pi,n P/Ai,n A/GiP

1 t.0100 0.9901 1.0000 1.00000 1.01000 0.9901 nla
2 1.0201 0.9803 2.0100 0.497 51 0 507-51 1.9-t.)1 0.49i5
3 i.0303 {).9106 i.0301 0.13002 0.3.iu()2 2.941C 0.9111
4 i .0406 0.9510 4.0604 0 24528
L0-5 l0 5.1010 ii 19604
0.256:8 3.9C10 1.1s16
5 0.!)5 l5 0.206()4 :1.8534 1.9!i) [
$ i.0515 0.9420 6.1520 0.16255 a.t72a5 5.1955 2.4i i0
7 1.0121 a.%27 '/ .2ti5
0.13863 0.14863 61282 1.9602
ti 1.uri29 0.9235 8.2857 0.12069 0.13069 7.6517 3.1478
9 1.09-37 0.9143 9.3685 0.10674 0.116 t-1 8.5560 3.9337
l0 1.1046 0.9053 10.4622 0.09558 0.10558 9.1713 4.4179
r1 t.115"7 0.8963 11.5668 0.08645 0.09645 10.3676 4.9005
l2 1.1268 0.8874 12.6825 0.07885 0 08885 r .2551 5,3815
i. I 381
1
I3 0.8787 13.8093 A.07241 0.c8241 12.t337 5.8601
14 1.1495 0.8700 14.9474 0.06690 0.07690 13.0037 6.3384
!5 1.1610 0.86 13 16.0969 0.c62 t 2 0.07212 13.855 r 6.8143
i6 i.1126 u.8528 17.2.5'79 0.tr5794 0.057q4 14.71^79 '1
.?886
i7 .f .i343 0.8.144 r E.-1304
i8 r. i961 19.6117
0.05+16 0.064r6 15.56:3 i]613
l9
0.8360
1.2(i81 tt.8277 0.0s098 0.06098 16.3933 5.2323
09
20.81 0.04805 0.05805 17.22*o 81017
t0 1.2202 0.8195 22.0t9a 0.01542 0.05542 18.04-j6 9.t694
2l 1.2324 0.E I 14 23.2392 0.04_103 0.05303 18.85 70 9.6354
22 1.2447 0.8rJ3.1 21.4716 0.040E6 c.05086 19.6604
23 1.2572 01954 25.7163 0.03 889 0.04889 20.45-<8
1U.0998
t0.5626
24 t.?-697 0.'18'76 26.9,135 0.0-1707 0.01707 2\.2134 tl.0217
25 1.:S:4 0.7798 28.2,.i32 0.03541 0.0.1,s41 22.0232 il.4831
26 1.2953 d.7710 29.52-<6 0.03387 0.04387 22.7952 1.9409
27 1.3082 0.7644 30.8209 0.03215 0.04215 23.ss96 12.3971
28 I .32 r3 32.1291
0.7568
L3.t-15 0.7493 0.031 l2 0.04112 24.3164 12.85t6
29 33.4s04 0.02990 0.03990 25.0658 13.30-14
30 l.l'178 0.74t9 34.7819 0.02875 0.03875 25.8077 13.7551
35 1.1166 0.70s9 41.6603 0.02400 0.03400 29.4086 15.9871
36 1.4308 0.6989 43.0169 0.02321 0.03321 30.1075 16.4285
{0 I .lulig rt.6i tj 48.8864
r.s648 0.639 t 0.02046 0.03046 ?'2.834't 18.1"i16
45 56.48t1 0.01771 0.02171 36.09,15
50 1.6116 0.6080 64.4632 0.01551 0.02-55 r 39.l96 r
20.32'73
2?.1363
55 1.7:ti,s t,.5785 72.8525 0.01,173 0.023;3 42.1472 24.5019
60 1.8 t67 81.66e7 0.01224
0.5_s04
I.91)94 0.523i 0.02221 44.9550 26.5333
ri5 90.9366 0.01 r00 0.02100 47.6266 28.5217
10 2.0068 ().4983 100.6763 0.00993 0.01993 50. 1685 30.4703
75 2.1091 0.4741 110.9128 0.00902 0.01902 52.58'71 323793
r]0 2.2t67 0.451 I 121.6715 0.00822 0.01822 54.8882 34.2492
85 2.3298 0.4292 132.9790 0.00752 0.01752 57.0777 36.0801
90 2.4186 0.4084 144.8633 0.00690 0.0r 690 59. 1609 37 .8'724
95 2.573s 0.3886 r 57.3538 0.00636 0.0r636 61.1430 39.6265
llr0 2.7018 0.3697 170.4814 0.00-587 0.0 r587 63.0289 413426
 652
Economic Evaluation and lnvestment
Decision Methods

i = 2.00Vo
n F/Pi,n P/Fi,n F/Ai,n A./Fi,n A/Pi,n P/Ai,n ,: A./Gi;n
1
, r.0200 0.9804 1.0000 1.00000 1.02000 0.9804
3
1.0404 0.9612 2.0200 0.49505 0.51505 1.9416
n/a

4
1.0612 0.9423 3.0604 0.3267s 0.34675 2.8839
0.4950

5
1.0824
t.1011
0.9238 4.1216 0.24262 0.26262 3.8077
0.9868
0.90s7 5.2040 0.t9216 0.21216 4.713s
1.4752
1.9604
6 1.t262 0.8880 6.3081 0. I 5853 0. 1 7853 5,6014
7
8
r.1487
.t7 t7
0.8706 7.4343 0. I 3451 0.15451 6.4720
2.4423

9
I 0.8535 8.5830 0.11651 0.13651 7.32s5
2.9208

t0
1.1951 0.8368 9.7546 0.10252 0.12252 8.1622
3.3961
1.2190 0.8203 t0.9497 0.09133 0.1 1 133 8.9E26
3.8681
4.3367
11 t.2134 0.8043 12.1687 0.08218
t2 1.2682 0.7885 13.4121 0.07456 0.10218 9.7868 4.8021
13 1.2936 0.7730 14.6803 0.06812 0.09456 10.5753 5.2642
14 1 .31 95 0.7579 15.9739 0.06260 0.08812 11.3484 5.7231
15 l.-3,1-59 0.7430 17.2934 0.05783 0.08260 12.t062 6.1786
0.07783 12.8493 6.6309
t6 1.3728 0.7284 18.6393 0.05365
t7 1.4002 0.07365 13.5777
I8
0.7112 20.0121 0.04997 0.06997 14.2919
7.0799

t9
t.4282 0.7002 2t.4123 -0.04670 0.06670 14.9920
7.5256

20
1.4568 0.6864 22.8106 0.04378 0.M378 15.6785
7.9681
1.4859 0.6730 24.2974 0.04116 0.06116 16.3514
8.4073
8.8433
2t 1.5 I 57 0.6s98 25.7833 0.03878
22 0.05878 t7.0112
:3
1.5.160 0.6468 27.2990 0.03663 0.05663 17.6580
9.2760

21
1.5769
1.6084
0.6312 28.8450 0.03467 0.05467 18.2922
9.7055

25
0.6217 30.4219 0.03287 0.05287 i 8.9r 39
10.1317
1.6-106 0.6095 32.0303 0.03122 0.05122 19.s235
10.5517
10.9_745
26
27
1 31
.67
1.7069
0.s976 33.6709 o.o2s7o 0.04970 20.t2to
28 1.1410
0.58-s9 35.3143 0.02829 0.04829 20.7069
11.3910

29
0.57 44 37.0512 0.02699 0.04699 21.28t3
I 1.8043
I .7158 0.5631 38.7922 0.02s78 t2.2145
30 t.t 0.0.1578 21.8444 12.62t1
1.8 I 0.-5521 40.5681 0.02.165 0.0,1465 22.3965 13.02-s 1
J5
36
1.9999
2.0399
0.5000 49.994s 0.02000 0.04000 24.9986
l0 2.2080
0.4902 s1.9944 0.01923 0.03923 25.4888
14.9961

J5
0.4529 60.4020 0.01656 0.03656 27.3555
15.3809
2.4379 0.1102 7 t .8927 0.01 391 16.888s
50 2.6916 0.03391 29.4902
0.371 5 84.5794 0.01182 0.03182 31.4236
18.7034
20.4420
55 2.9117
60 3.28 l0
0.3365 98.5865 0.010r4 0.03014 33.1748
0.30-18 r 14.051s 0.00877 22.105'7
65 3.6225 0.02877 34.7609 23.6961
70
0.276t 131.1262 0.00763 0.02763 36.r97 5
3.9996 0.2500 149.9719 0.00667 25.2147
75 ,1.4158 0.02667 37.4986 26.6632
0.226s 170.7918 0.00586 0.02586 38.6771 28.0434
80 4.8754
85
0.2051 193.7720 0.00516 0.02516 39.7445
5.3829 0. r 858 219.1439 0.00456 29.3572
90 5.943 t 0.02456 40.7113 30.6064
95
0. I 683 247.1567 0.0040s 0.02405
6.)6 l7 0.1524 278.0850 0.00360 4 r .5869 31.7929
100 7.2416 0.02360 42.3800
0. I 380 312.2323 0.00320 0.02320 43.0984
32.9189
33.9863
 Appenr,r^ A: Discrete lnterest, ijiscreie Value Feclcrs
653

i = 3.0C'Z
n FlPi,n PA-i,n F/Ai,n A./Fi,n A./Pi,n P/Ai,n A./Gi,n
I i.0:100 0.9709 1.0000 i 00000 i.03000 0.9709 n/a
2 1.0609 0.9426 2.0300 c.19261 0 52261 1.9135 0.4926
3 i.i)9:7 {}.9151 3.0909 r,: -12353 L).35353 2.8286 0.9803
;l i . 1255 0.8885 i836 (',.23903 0.26903 3.7111 1.4631
5 i l-'.l93 0.86:6 s.3091 "1.
1) 18835 0218.15 4.5797 1.9409
6 i i941 0.8-175 6.468.1 (,.15460 0.19460 s.4172 2.4138
7 t 2299 0.8111 .6625 7 0.r3051 0.16051 6.2303 2.8819
8 i.:668 0.7891 8.8923 0.fi246 0.14246 7.0197 3.3450
9 1.3048 0.'7664 10.1591 0.09843 0.12843 7.7861 3.8032
t0 0.7441 1t.4639 0.08723 0.11723
L 34_a9 8.5302 4.2565
1l 1.3842 0.7224 12.8078 0.07808 0.10808 9.2s26 4.7049
12 i.4258 0.7014 14.1920 0.07046 0.100.16 9.9540 5.148s
13 i.4685 0.68i0 15.6178 0.06403 0.09403 10.6350 5.s872
t4 i.5126 0.661 I 17.0863 0.05853 0.08853 11.2961 6.0210
l5 i -5-s80 0.6419 18.5989 4.c5377 0.08377 t 1.9379 6.4500
16 1.6u47 0.6.132 2ti.1569 C.r;J961 0.07961 [.5611 6.8742
17 1.6528 0.6050 2t.1616 0.0+595 0.07595 13.1661 t=.2936
18 I.7024 0.,s87.1 23.4144 0c +171 a.0i271 13.7535 r-3081
19 1.7535 0.-5703 25.t 169 0.0-1981 0.0598 1 1.t.32-t8 8.1179
2$ t .u061 0.-5537 26.8704 0.03122 0 06722 14.87'/5 E.5229
l1 i.8603 t).5-175 28.6765 0.f 3.187 0.C6487 l 5.41 50 8.9231
22 l9lril 0 5219 30.5368 0.4327 5 0.[\6215 r5.9369 9.3186
23 t .97 36 0.5067 32.4529 0.0-1081 0.06081 r 6.1.136 9.7093
21 I 0328 0..1919 31.4265 c..J2905 0.05905 16.9355 10.0954
l5 l 0()39 0.4i7 6 36.4593 0.\)2743 0.05743 17 .4131 10.4768

26 2.r566 0.4637 38.5530 0.02594 0.05594 r'7.8768 10.8535

27 2.2213 0.4s02 40.7096 0.02456 0.05456 18.3270 t1.22ss
28 2.28i9 0.4371 12.9309 0.02329 0.05329 t8.764t i 1.5930
29 2.3566 0.4213 4s.2189 0.0221t 0.05211 19.1885 11.9-558
30 2.4213 0.4120 41 .57 54 0.021 02 0.0s I 02 19.6004 12.3t11
35 2.8 139 0.3554 60.4621 0.01654 0.04654 21.4872 14.0375
36 2.8983 0.3450 63.2759 0.01580 0.04580 2t.8323 14.3688
40 3.2624 0.3066 s.4013
7 0.01326 0.01326 23.1148 15.6502
45 3;816 Q.2644 92.7199 0.0 r 079 0.04079 24.5187 t7.1ss6
50 -i.38i9 o.22gt tt2.'7969 0.00887 0.03887 25.7298 18.5575
s-s a.i)El1 0. t968 136.0716 0.00735 0.03735 261744 19.8600
60 5.89 l6 0.t697 163.0534 0.00613 0.036r3 27 .6't s6 21.0674
65 6.8_100 0.1464 194.3328 0.00515 0.03515 28.4529 22.t841
70 7.9118 0.1263 230.5911 0.00434 0.03434 29.1234 23.214s
75 9.t789 0.1089 272.6309 0.00367 0.03367 29.70t8 24.1634
80 10.6409 0.0940 321.3630 0.00311 0.0331I 30.2008 25.0353
85 12.3357 0.081 1 377.8570 0.00265 0.0326s 30.6312 25.8319
90 r 4.3005 0.0699 443.3489 0.00226 0.03226 31.0024 26.5667
95 t6.5782 0.0603 519.2720 0.00193 0.03 t 93 31.3227 27.23s1
r00 19.2186 0.0s20 607.2877 0.00165 0.03 r 6s 31.5989 27 .8414
 654
Economic Evaluation and lnvestment Decision
Methods

i = 4.00Vo
n F/Pi,n P/Fi,n F/Ai,n A/Fi,n A./Pi,n P/Ai,n A,/Gi,N
I 1.0400 0.9615 1.0000
, 1.0816 0.9246 2.0400 1.00000 1.04000 0.9615 nla
0.49020 0.-s3020
3 t.1249 0.8890 3.1216 0.320i35 0.36035
1.8861 0.4902
4 1.1699 0.8548 4.2465 0.23549 0.27549
2.7751 0.9739
1.2t67 0.8219 5.4163 0.18463 0.22463
3.6299
4.45t8
1.4510
1.9216
6 1.2653 0.7903 6.6330 0. I 5076 0.19076
7 1.31 59 0.7599 7.8983 0.12661 0.16661
5.2421 2.3857
8 1.3686 0.7307 9.2142 0.10853 0.14853
6.0021 2.8433
9 1.4233 0.7026 10.5828 0.09449 0.13449
6.7327 3.2944
10 1.4802 0.6756 t2.oo61 0.08329 0.12329
7.4353
8. I 109
3.739t
4.1773
11 1.5395 0.6496 13.4864 0.07415
12 1.6010 0.6246 15.0258 0.06655
0.11415 8.7605 4,6090
13 1.665 I 0.6006 16.6268 0.06014
0.106s5 9.385 r 5.0343
t4 1.7317 0.5775 t8.29tg 0.05467
0.10014 9.9856 s.4533
15 1.8009 0.s553 20.0236 0.04994
0.09467
0.08994
10.5631 5.8659
11.1184 6.272t
t6 1.8730 0.5339 21.8245 0.04582
t1 t.9479 0.5134 23.6975 0.08582 11.6523 . 6.6720
18 2.0258 0.4936 25.6454 0.04220 0.08220 12.1657 7.06s6
t9 2.1068 0.4746 27.67 12 0.03899 0.07899 12.6593 7.4530
20 2.t9tt 0.4564 29j781 0.03614
0.033s8
0.07614
0.07358
13.1339 7.8342
13.5903 8.2091
2t 2.2788 0.4388 31.9692
), 2.3699 0.4220 34.2480 0.03128 0.07128 14.0292 8.5779
0.02920 0.06920 14.451t
23 2.464-t 0.40s7 36.617s 4.02731 0.06731
8.9407
21 2.5633 0.3901 39.0826 0.02559 0.06559
14.8568 9.2973
2S 2.6658 0.37s1 41.64ss 0.a2401 0.06401
15.2470
15.622t
9.6479
9.9925
26
'r',
) '711 <
0.3607 44.31t1 0.02257 0.06257
2.8834 0.3468 47.0812 0.02124 0.06124
15.9828 10.33i'2
28 2.9987 0.3335 49.9676 0.02001 0.06001
16.3296 10.6640
29 3.1 1 87 0.3207 52.9663 0.01 888 0.05888
16.6631 10.9909
30 3.2434 0.3083 s6.084e 0.01783 0.0s783
16.9837
17.2920
11.3120
1t.6274
35 3.9461 0.2534 n.6522 0.01358 0.05358
36 4.1039 0.2437 77.598j 0.01289 0.05289
18.6646 l3.l 198
40 4.80i 0 0.2083 95.0255 0.01052 0.05052
18.9083 I 3.401 8
45 5.8412 0.1712 12t.0294 0.00826 0.04826
19.7928 14.1765
50 7.1067 0.1407 1s2.6671 0.00655 0.04655
20.7200
21.4822
15.7047
16.8122
55 8.6464 0.1 157 191.1592 0.00523 0.04523
60 10.5 r 96 0.0951 237.9907 0.00420 0.04420
22.1086 17.8070
65 12.7987 0.0781 291.9684 0.00339 0.04339
22.6235 18.6972
70 r 5.5716 0.0642 364.290s 0.00275 0.04275
23.0467 19.4909
75 18.9453 0.0528 448.6314 0.00223 0.04223
23.3945
23.6804
20.1961
20.8206
80 23.0498 0.0434 551.2450 0.001 8 I 0.041 81
85 28.0436 0.03s7 676.0901 0.00148 0.04148
23.9154 21.3718
90 34.1193 0.0293 827.9833 0.001 2 t 0.04121
24.1085
24.2673
2l .8569
95 41.51t4 0.0241 1012.7846 0.00099 0.04099 24.3978
22.2826
100 50.50.19 0.0198 t237.6237 0.00081 0.04081 24.s0s0
22.6s50
22.9800

;
_-fl
 A;-.pendix A: Discrete lnterest, Discrete Value Factors
t 655

i = 5.007o
n FlPi,n P/Ii,n f,'/Ai,n A/Fi,N A./pi,n P/Ai,n A/Gi,n
I r.t)500 0.9524 1.0000 t.00000 i.05000 0.9524 nla
? r 1025 0.9070 2.0500 0.48780 0 53780 I Q <.1, 0.4878
3 i. I 576 0.8638 3.1515 0.31721 c 36721 2.7232 0.9675
4 r 1155 0.8227 4.3101 0.23r01 0 28201 3.5r50 1.4391
| .2.7 63 0.78-15 5.5256 0. r 8097 0.23097 4.32,)5 1.9025
6 1.:1,101 4.7462 6.8019 0.14702 0.19702 -s.0757 2.3519
l.+071 0.7107 8.1420 0.12282 c.11282 ,5.78n:l 2.8052
8 1.1 t-75 0.6768 9,5491 0.10472 0.15472 6.4632 3.2445
9 l._s5 r 3 0.6446 fi.0266 0.09069 0. r 4069 7.1078 3.6758
lfi 1.6289 c.5139 12.5779 0.079s0 0.12950 7.7217 4.0991
Il I .7103 c.5847 14.2068 0.07039 0 12039 8.3064 4.5144
t2 t.7959 f).5568 15.91'71 0.06283 0.n283 8.8633
13 1.88-s6 r).5303 17.7 t30 0.05646 0.10646 9.39-i6
4.9219
s.3215
,4 1.9799 0.5051 i9.5986 0.05 r 02 0.1 0102 9.8e86
t5 1.0789 0.1810 21.5786 0.0.+634 4.1J9634 t4.3797
-5.? 133
6 )973
t6 1.1829 0.-1581 23.657 5 0.04227 ().t192r, 10.8 178
t7 ).2920 0.J363 25.8404 0.03870 0.{)8870 I t .2111
6.".1736
6.8;ll3
18 2.4066 0.1 i 55 :8. 1324 0.,J35-55 0.08555 11.6896
l9 2.5270 0.3957 30.5390 0.032'75 0.[,8275
7.2t)34
20 2.6533 0.3769 33.0660 0.03021 0.08024
12 08-53
t2 4622
7.5569
7.9r)-10
2L
,,1
2.7ti60 0.3589 35.7193 0.02800 0.07800 12.8212 s.2-116
2.9153 0.3-1 t 8 .tti.50_52 0.02s91 0.0759'1 r 3.1 630 8.5730
23 3.0.i l5 0._3:56 41.4305 0.i)2414 0.()7414 i3.4886 8 8971
21 -r.lt5l 0.3 l0l .+4.-5i,)20 0.0)247 L\.{\i247 3.7986
r 9.2110
:5 3.3 S 5.1 0.29"53 47 .i 27 I 0.0t095 ().07095 r4.0919 f -i238
26 3.-5 5-57 0.2812 5t.l135 0.01 956 0.06956 11.37 52 9.8266
27 -r.7-1.15 0.2678 s4.669t 0.01829 0.06829 14.6430 to.t224
:8 3.92()t 0.25-51 58.4026 0.01112 4.06712 14.8981 10..i114
29 4.1I6l 0.2429 62.3227 0.0 r605 0.06605 15.1411 10.6936
-10 4.3219 0.2314 66.4388 0.01 505 0.06505 15.3725 I0.9691
31 4.5380 0.2204 70.7608 0.01 4l 3 0.0641 3 1s.5928 I 1.2381
32 4.1619 0.20e9 7s.2988 0.0 r 328 0.06328 1s.8027 I 1.5005
33 5.0032 0.1999 80.0638 0.01 249 0.06249 16.0025 n.'t566
3{ 5.2-sl3 0.r904 85.0670 0.0r I76 0,061 76 16.t929 2.0063
35 -5.-s 160 0.r813 90.3203 0.0ilr17 fi.)6107 16.3"712
r
12.24'13
36 -5.791 8 i).1121 9-5.8363 0.0 r043 0.06043 16.s469 12.48,12
37 6.08 r4 0. 644 01 .628 0.0t 984 0.05984 16.7113 12.7 t86
1 1 1

38 6.38s5 0.1566 107.7095 0.00928 0.05928 16.8679 12.9440

39 6.7048 0.1.191 114.09-50 0.00876 0.05876 17.0t70 r3.1636
40 7.0400 0.1420 120.7998 0.00828 0.05828 17.1s91 13.3775
48 r 0.4013 0.0961 188.0254 0.00532 0.05532 18.0772 14.8943
50 11.46'74 0.0872 209.3480 0.00478 0.05478 18.2559 15.2233

.I
 656
Economic Evaluation and lnvestment Decision
Methods

i = 6.00Vo
n F/Pi,n P/Ii,n F/Ai,n A.1Fi,n A/Pi,n P/Ai,n A/Gi;n
I 1.0600 4.9434 1.0000
2 1.1236 0.8900 2.0600 1.00000
0.48544
1.06000 0.9434 n/a
3 l.t9t0 0.8396 3.1836 0.54544 1.8334 0.4854
4 t.2625 0.7921 4.3746 0.31411
0.22859
0.37411 2.6730 0.9612
5 1.3382 0.7 473 5.6371 0.17740
0.28859
0.23740
3.4651 1.4272
4.2124 1.8836
6 1.4185 0.7050 6.9753 0.14336
7 1.5036 0.6651 8.3938 0.11914
0.20336 4.9173 2.3304
8 1.5938 0.6274 9.8975 0.10104
0.17914 5.5824 2.'1676
9 1.6895 0.5919 11.49t3 0.08702
0.16104 6.2098 3.19s2
l0 1.7908 0.5584 13.1808 0.07587
0.14702
0.13587
6.8017 3.6133
7.3601 4.0220
11 1.8983 0.5268 14.9716 0.06679
12 2.0122 0.4970 16.869s 0.05928
0.12679 7.8869 4.4213
13 2.t329 0.4688 18.8821 0.0s296
0.t1928 8.3838 4.8113
t4 2.2609 0.4423 21.0151 0.047s8
0.11296 8.8527 5.1920
15 2.3966 0.4173 n.2760 0.04296
0.107s8
0.10296
9.2950 5.5635
9.7122 5.9260
t6
.t7
2.5404 0.3936 25.6725 0.03895 0.09895
2.6928 a37M 28.2129 0.03544 0.09-s.14
10.1059 6.2794
I8 2.8543 0.3503 30.9057 0.03236 ().09236
to.4'173 6.6240
79 3.0256 0.330s 33j600 4.02962 0.08q62
10.8276
II.l5lt1
6.9597
20 3.2071 0.3 l8
1 36.7856 0.027 t 8
7.2867
0.08718 11.4699 7.6451
2t
))
3.3996 0.2942 39.9927 0.02500 0.08500
)1
3.6035 0.2775 43.3923 0.02305 0.08305
11.7641 7.9t51
3.8197 0.2618 46.9958 0.02t28 0.08128
12.0416 8.2166
24
'l<
4.0.189 0.2470 50.8156 0.01968 0.07968
12.3034 8.5099
4.2919 0.2330 54.8645 0.01823 0.07823
12.5501
12.7834
8.79sl
9.0722
26 4.5491 0.2198 59.1564 0.01690 0.07690
27 4.8223 0.2014 63.7058 0.01570 0.07 s70
13.0032 9.3414
28 5.ll17 0.r956 68.5281 0.01459 0.07459
13.2105 9.6029
0. I 846
29 5.4184 13.4062 9.8568
73.6398 0.01358 0.07358
30 5.1435 4.1141 79.0s82 0.01265 0.0726s
13.5907
13.7648
10. I 032
10.3422
3t 6.0881 0.16,13 84.8017 0.01179 0.07179
0. 550
32 6.4531 13.9291 10.5740
r 90.8898 0.01100 0.07100
33 6.8.106 0.1462 97.3432 0.01027 0.07027
r4.0840 10.7988
34 7.25t0 0.1379 04.1 8381 0.00960 0.06960
14.2302 1l 0166
1,1.2276
0. 301
35 7.6861 14.368 I
1 111 .4348 0.00897 0.06897 14.4982 11.4319
36 8.1473 0.1227 119.1209 0.00839 0.06839
0. r 158
J7 8.6361 14.6210 11.6298
127 .2681 0.00786 0.06786
38 9. r 543 0.1092 85.9042 0.00736 0.06736
t4.7368 11.8213
39 9.'1035 0.1031 t45.0585 0.00689 0.06689
14.8460 12.006s
40 to.28s7 0.0912 1s4.7620 0.00646 0.06646
14.949t
15.0463
t2.1857
12.3590
48 16.3939 0.0610 2s6.s645 0.00390 0.06390
50 t8.4202 0.0543 290.33s9 0.00344 0.06344
r5.6500
15.7619
13.5485
13.7964
 r\,ri)enoir A: Discrete lnierest, f;.screte Value Factors
{ 657

i = 7.$AYo
Ir IJPi,n PlFi,n F/Ai,n A/Fi,n A/Pi,n P/Ai,n A/Gi,n\
1 1.07()0 0.9i.16 L00r)0 1.00t00 i.07000
2 1.1449 0.8?34 2.0i00 0.48309 0.55?09
0.9346 nla
J 1.2i-r0 0.s 153 -3.2 1 :19 0.,1] ;t)5 l)
1.8080 0.4s-j 1
{ r3108 0.76t9 1.13{)g 0.22523
r,).

0.29523
-ib t 1 2.6213 0.9i"+9
5 l..t0t6 0.7 ti0 5.7507 0. I 73b9 0.2.13tj9
3.3872
4.1002
1.4 155
I .85-s0

ri.6663 7. l5-13 0. I 3980 0.20980

: .6(i58 0.62]7 8.6s.10 0.1 1555 0.1 8555
4.7665
5.3893
2.3032
2.73q4
It .7 ts2 0.5820 r 0.2598 0.09117 0.16717 5.97 13 3.1465
9 E3s.5 0.5439 I L97S0
.
0.08.149 0.153r9 6.st52 3.5517
1U .9Ct2 0.5083 13.8154 0.07238 0.14238 7.0236 3.9461
11 2.10"+9 0.47 5t 15.78-16 0.06336 3336
12 22522 0.4440 17.8885 0.0sJ90
0.1
0. I 2590
7.4987 4.3296
13 2..1098 0.41-s0 20.14(16 0.04q55 0. I 19b5
7.9427
8.3577
4.7025
I+ ,/ \/X\ 0.3878 22.5505 0.0"1-i-r4 0.11434
5.06.18
Ii 2.7-s!10 0.3624 25.1290 8.7455 5.4i67
0.03e79 0.10979 9.1079 5.75.C3
{l) r.95: l 0.33d7 27.88S r 0.03-5E6 0. I 05s6 9.1166 6.08,r7
1: .1.l -Sr8 0.3166 30.8402 0.03243 0.102-13 9.7632 6.4110
Irt 3.371,)g (r 2959 33.9990 0.02911 0.099.11 10.0s91 6.7225
l9 3.6165 4.2765 37.37e0 0.026i 5 0.09675 t0.33-s6 ij)212
:0 3.8697 0.2584 40.9!r-55 0.024i9 0.09439 i0.5940 7.3163
2t 1.14{i6 (i.24 l5 44.8o.52 0.0n29 it.09229 Ir1.8355 7.5990
22 .i.430.1 L\.2257 -19.0057 0.020-t 0.0904t t 1.06t2 7.8725
23 4.7 4A5 0.2109 53.4361 0.01 s 7l
1

0.08871 11.2722
24 5 07)1 0.1971 58.1767 0.0i 7 t9 0.087 t 9 1t.4693
i1. 1369
25 -s.-12 7-1 0.18-12 63.219{) 0.0158 t 0.08581 rt.6536
s.3 92 3
r{.6391
26 -5. E07-l 0.112 2 68.676-s 0.01456 0.084-s6 I 1.8258 8.8713
),7 6.2139 0.1609 74.483S 0.01343 0.08343 I t.9867 9.1012
28 6.6.1S8 0.1504 80.6977 0.0i 239 0.08239 12.131t 9.3289
29 1 .t t13 0.1406 87.3465 0.01 I 45 0.08145 12.2777 9.5427
30 7.6123 0.r314 91.4608 0.01 059 0.08059 12.4090 9.1487
3l 8.14,51 0.1228 102.0730 0.00980 0.07980 12.53 I 8 9.917 1
32 8.7 1s3 0.n17 110.2182 0.00907 0.07907 12.6466 10.1381
33 9.32-53 0.1072 118.9334 0.00841 0.07841 12.7533 r 0.32 t9
3.1 9 9181 0. r002 r 28.2588 0.00780 0.07780
ls 12.8540 r0.4987
t0.6766 0.0937 138.2369 0.00723 0.07723 12.947'.1 r0.6687
:16 I i.1239 0.0E75 143.9135 0.00672 0.47672 r3.0352 l0.n32 t
37 t1.2236 0.0818 160.337.1 0.0062,1 0.07624 13.1 170 0.989
38 13.0793 0.0765 172.5610 0.00580 0.07580 3.1 935
r

1.r398
r

0.07 l5
r r
39 l._1.9948 85.6403 0.00539
1 0.07539 t3.2649 I 1.2845
40 t1.97 45 0.0668 199.6351 0.00501 0.07501 13.3317 t 1.1233
48 2s.7289 0.0389 353.2'701 0.00283 0.07283 13.7305 12.3447
50 29.4s70 0.0339 406.5289 0.00246 0.07246 r 3.8007 12.5287
 658 Economic Evaluation and lnvestment Decision Methods

i = 8.01)Vo
n F/Pi,n P/Fi,n F/Ai,n A./Fi,n A.rpi,n P/Ai,n A./Gi,n
I 1.0800 0.9259 1.0000 1.00000 1.08000 0.92s9 nla
2 1.1664 0.8573 2.0800 0.48077 0.56077 1.7833 0.4808
3 1.2597 0.7938 3.2464 0.30803 0.38803 2.5771 0.9487
4 r.3605 0.7350 4.5061 0.22192 0.30192 3.3121 l.4040
5 1.4693 0.6806 5.8666 0.17046 0.25046 3.9927 1.8465
6 1.5869 0.6302 7.3359 0.13632 0.21632 4.6229 2.2763
7 r.7138 0.5835 8.9228 0.11207 0.19207 5.2064 2.6937
8 1.8509 0.s403 10.6366 0.09401 0.17401 5.7466 3.0985
9 1.9990 0.5002 12.4876 0.08008 0. r6008 6.2469 3.4910
10 2.1589 0.4632 14.4866 0.06903 0.14903 6.7101 3.8713
11 2.3316 0.4289 16.6455 0.06008 0.14008 7.1390 4.2395
t2 2.5t82 0.3971 18.971 I 0.0s270 0.13270 7.5361
13 2.7196 0.3677 21.4953 0.046s2 0.12652 7.9038
4.59s7
4.9402
t4 2.9372 0.3405 24.2149 0.04130 0.12130 8.2442
15 3.t722 0.3152 27.1521 0.03683 0. I 1683 8.5595
5.2731
5.5945
l6 3.4259 0.29t9 30.3243 0.03298 0.1 1298 8.85 l4 s.9046
t7 3.7000 0.2703 33.7s02 0.02963 0.10963 9.t216 6.2037
18 3.9960 0.2502 37.4502 0.02670 0.10670 9.3719 6.4920
19 1.3157 0.2317 41.4463 0.02413 0.10413 9.6036 6.7697
20 4.6610 0.214s 45.7620 0.02185 0.10r 85 9.8181 7.0369
2t
'r',
5.0338 0.1987 50.4229 0.01983 0.09983 10.0168 7.2940
s.4365 0.1839 55.4568 0.01803 0.09803 10.20a7 7.5412
23 5.8715 0.r703 60.8933 0.01642 0.09642 t0.37 tl 7.7786
24
)i
6.3412 0.t577 66.7648 0.01498 0.09498 10.5288 8.0066
6.848s
-0.1460 73.10s9 0.01368 0.09368 10.6748 8.2254
26 7.3964 0. I 352 79.9544 0.0125t 4.09251 10.8100 8.4352
27 7.9881 0.1252 87.3508 0.01145 0.09145 10.9352 8.6363
28 8.6271 0. I 159 95.3388 0.01049 0.09049 I 1.051 1 8.8289
29 9.317 3 0.1073 103.9659 0.00962 0.08962 r 1.1584
30 10.4627 0.0994 113.2832 0.00883 0.08883 11.25'78
9.01 33
9.1897
31 10.8677 0.0920 123.34s9 0.0081 1
32 |lt7371 0.0852 134.2135 0.00745
0.0881 I 1 1.3498 9.3584
33 12.6160 0.0789 145.9506 0.00685
0.08745 I 1.43_50 9.5t97
li 13.6901 0.0730 158.6267 0.00630
0.08685 11.5139 9.6737
35 14.7853 0.0676 172.3168 0.00580
0.08630
0.08580
r 1.5869
I 1.6546
9.8208
9.961t
J6 l5.9682 0.0626 187.1021 0.00534 0.08534 lt.7 t72
37 17.2156 0.0580 203.0703 0.00492 0.08492 11.77 52
10.0949
t8 t8.6253 0.0537 220.31s9 0.004-s4 0.08454 I 1.8289
10.2225
10.3440
39
.{0
20.1 1 53 0.0497 238.9412 0.00419 0.08419 1.8786 10.4s97
21.7245 0.0.160 259.0565 0.00386 0.08386
1
I1.9246 r0.5699
48 40.2106 0.0249 490.1322 0.00204 0.08204 t2.1891
50 46.9016 0.02t3 5'73.7702 0.00r74 0.08 r 74 12.2335
11.27 s8
I t.4107
 Apperrdix A: Discrete lnterest, Discrete Value Factors 659

i= 9.00Vo

n F/Pi,n P/Fi,n F/Ai,n A./Fi,n A/Pi,n P/Ai.n A"/Gi,n

1 L0900 0.9174 1.0000 r.00000 1.09000 ().9174 nla
, ! lQr1 ().8417 2.0s00 fr.47847 0.568-17 L75e t 0..4785
3 t.2,i.i0 01122 3.2i81 ().30505 0.39505 2.5-l 13 t).9426
4 1''1't 16 (i.7084 4.5 731 0 21867 0.30867 -:r ?--197 I 1925
5 l.5-l.r(r 0.6499 s9847 ().16709 A.25709 3.Sd97 \.8282

6 1.6,-7 t u..s963 1.5233 L\.13i92 0.22292 4.4859 ).24e8

7 l.i3:S0 0 5470 9.2004 0.10869 0_19869 5 ri33o 2'6511
8 1.99:6 0.50 r9 11.0285 0.09067 0.18067 s.-5348 3.0512
9 ).1719 0.4604 13.0210 0.07680 0.16680 5.9952 3.4312
10 2.3614 0.4224 15.1929 0.06582 0.15582 6.4177 3.7978

ll I 5804 (t.3875 17.5603 0.05695 0.14695 6\052 4.1510

t2 ).8127 () 3555 2A.1407 0.04965 0.13965 7.1607 4.49t0
13 r.0658 (j.3252 22.9534 0.04357 0.13357 7.4869 4.8182
14 ,? 3,117 0.2992 26.0192 0.0.3843 0.12843 '1.7862 5J326
r5 ?.6125 ().2145 29.3609 0.03406 0. r:406 8.0607 5.43+6
16 r.9-03 0.25 l9 33.0|34 0.03030 0.i1030 8.3126 5."7245
17 ,i .3::16 (j.2311 36.9: l7 i).02705 0.tI705 8.5.1.16 6.0024
18 .t.7 ilI 0.2120 41.-1013 \).02421 n.tl4zl 8.7556 6.2687
t9 5.1417 rr r 945 46.0185 4.02173 0.11173 8.9501 6.5236
l0 5 601.1 0. I 784 5 l. t601 0 01955 0.I0955 9 i2s5 ' 6'16-t1
2t 6.t0t8 0.1637 s6.7645 0.0t162 0.10762 f .ig22 '1.2232
'7
.q{)('\6
22 6.6586 0. r 502 62.8733 0.01590 0. 10s90 g 1124
23 i.2519 0. 1378 5e.53 l9 (.).01438 0. r0.138 !,).5802 7.4357
21 7.91 I 1 0 1264 75.7898 0.01302 0 t0302 g.7066 7.6 j14
25 8.5231 f). I 160 8.1.70()9 0.01181 0.10181 9.8126 7.8i l6
26 9.3992 0.1064 9-1.32-10 0.01072 0.10072 9.92S0 8.0156
27 10.24,s 1 0.0916 102.1)31 0.01)!)73 0.09973 10.0166 8. I 906
28 I l.i67i 0.089s 112.9682 0.00885 0.09885 10. I 161 8.357 1

29 12.1722 0.0822 124.1351 0.00806 0.09806 10. I 983 8.5 I 5'1

-10 13.2671 0.075,1 136.3075 0.00734 0.09134 10.2'/31 8.6657
31 14.4618 0.0691 149.57 52 0.00669 0.09669 r0.3428 8.80s3
.12 i-5.76 t-3 0.0634 16,1.0370 0.006 r0 0.096 r0 10.4062 8.9436
13 1 7.1 320 0.0582 179.8003 0.00556 0.095-s6 10.1644 9.0718
14 ls.7l8.+ 0.053.1 t 96.9923 0.00508 0.09508 l0.s I 78 9. 1933
35 20..1l-+0 0.0.190 215.7108 0.00464 0.09.164 10 5568 9.3083

-1(r t2.25 I2 0.04"{9 236.1247 0.00424 0.09424 10.61 I 8 9.4171

37 14.2-5-38 0.0-1r2 258.3759 0.00387 0.119387 10.6530 9.s200
.1,8 26.4367 0.0378 282.6298 0.0035,1 0.09354 r0.6908 9.6112
39 28.8160 0.0347 309.066.5 0.00324 0.09324 10.7255 9.7090
.10 I1.409.1 0.03r8 337.8821 0.00296 0.09296 10.7574 9.7957
48 62.5852 0.0160 684.280,1 0.00t46 0.09146 t0.9336 10.3317
50 7 4.357 s 0.0134 8 I s.0836 0.00 r 23 0.09123 10.9617 10.4295
 560 Economic Evaluation and lnvestment Decision Methods

i = l0.00%o
n F/Pi,n P/Fi,n F/Ai,n A./Firn , A/Pi"u P/Aip A/Gi,n
i i.1000 0.9091 1.0000 1.00000 1.10000 0.9091 nla
2 1.2100 0.8264 2.1000 0.47619 0.57619 1.'t355 0.4762
3 1.3310 0.75 13 3.3 100 0.30211 0.4021t 2.4869 0.9366
4 1.4641 0.6830 4.6410 0.21547 0.31547 3.1699 1.3812
5 1.6105 0.6209 6.1051 0.16380 0.26380 3.7908 1.8101
6 1.77 t6 0.5645 7.7156 0.12961 0.22961 4.3553 2.2236
7 t.9487 0.5132 9.4872 0.10541 0.20s41 4.8684 2.6216
I 2.1436 0.4665 11.4359 0.08744 0.18744 5.3349 3.0045
9 2.3579 0.4241 t3.5795 0.07364 0.17364 5.7590 3.3'724
r0 2.5937 0.3855 15.9374 0.06275 0.16275 6.1416 3.7255
l1 2.8531 0.3505 18.5312 0.05396 0.1s396 6.49s1 4.0641
t2 3.1384 0.3186 21.3843 0.04676 0.14676 6.8137 4.3884
13 3.4523 0.2897 24.5227 0.04078 0.14078 7.t034 4.6988
14 3.797 5 0.2633 27.9't50 0.03575 0.135't5 7.3667 4.9955
15 4.1772 0.2394 31.7725 0.03147 0.t3147 i.6061 5.2789
16 4.5950 0.21't6 35.9497 0.02782 0.12782 't.8237 5.5493
17 5.0545 0.1978 40.5447 0.02466 0.12466 8.0216 5.8071
18 5.5599 0.t"199 45.5992 0.02193 0.12193 8.2014 6.0526
19 6.1 159 0.1635 51.1591 0.01955 0.1 1955 8.36.19 6.2861
20 6:7275 0.1486 57.2750 0.01746 0.1t746 8.5 136 6.5081
2t
"tt
7.1002 0.1351 64.002s 0.01562 0.11s62 8.6487 6.7189
8.1403 0.1228 71.402',7 0.01401 0.11401 8.7715 6.9189
23 8.95.13 0.1117 79.5430 0.012s7 0.11257 8.8832 7.1085
21 9.8197 0.10t 5 88.4973 0.01130 0.11130 8.9847 7.288t
25 10.8347 0.0923 98.3471 0.0r017 0.11017 9.0770 7.4580
26 I 1.9182 0.0839 109.1818 0.009 16 0. 1 09 1 6 9.1609 7.6186
27 l3.ll00 0.0763 12t.0999 0.00826 0.10826 9.2372 7.7704
28 11.4210 0.0693 134.2099 0.00745 0.10745 9.3066 7.9137
29 15.8631 0.0630 148.6309 0.00673 0.10673 9.3696 8.0,189
t0 17.4491 0.0573 161.4910 0.00608 0.10608 9.4269 8.t762
3l t9.1943 0.0521 r81.9434 0.00550 0.t0550 9.4190 8.2962
32 2r.1138 0.0474 201.1378 0.00497 0.10497 9.5264 8.4091
33 23.2252 0.0431 222.2515 0.00450 0.10450 9.5694 8.s I 52
l,l 25.5477 0.0391 245.4761 0.00407 0.10407 9.60E6 8.6149
35 28.1024 0.03s6 211 .0244 0.00369 0.10369 9.6442 8.7086
36 30.9t27 0.0323 299.1268 0.00334 0.t0334 9.6765 8.796s
l7 34.0039 0.0294 330.039s 0.00303 0.10303 9.7059 8.8789
38 37.4043 0.0261 364.0434 0.00275 0.rc27s 9.7327 8.9562
39 4t.1448 0.0213 401.M'78 0.00249 0.t0249 9.7570 9.028s
.t0 4s.2593 0.0221 442.s926 0.00226 0.10226 9.7791 9.0962
48 97.0t72 0.0103 960j723 0.00104 0.10104 9.8969 9.5001
50 117.3909 0.0085 r i63.908s 0.00086 0.10086 9.9148 9.5704
 Appendi/ A: Discrete lnterest Discrete Value Factors
661

. i= 12.ll0o/c

F/Pi,n P/Fi,n F/Ai,n AIFi,N A/Pi,n P/Ai;n AlGi,n

I t. i 20t) t).8929 1.0000 1.00000 i. r2000 0.8929
2 1 .l5l,l 0.'7972 2. I 200 4.47170 0.59170 .6901 0.4717
nla
J i.-l!'-+g i;.7118 3.3114 0.29635 0.41635
1
2 4018 0.9246
.4 I ., {) 0.6355 1.7793 0.20923 0.32923 3 0373
5 1.76t3 a 5674 6.3i28 0.1-s741 | 27711
1.3589
3.6048 1.7746
ri I :r-,'-18 05066 8 1152 0.12323 0.24323 4.11 i4 2J720
7 2.:tt)7 c -+523 r0.0890 0.09912 0.2t912 4.5638 2.55 l5
I 2.,17b0 0.4039 12.2997 0.081 30 0.20130 4.9676 2.9131
9 2.77 3t 0.3606 14.77 57 0.06768 0. i 8768 5.3282 3.2574
10 i.1c58 0.3220 17.5487 0.05698 0.17698 5.6502 3.s847
ll 3 1785 0.287s 20.6546 0.04842 0.16842 5.9377 3.8953
t2 3.5160 0.2567 24.1331 0.04t44 0.16144 5.1944 4.1897
13 .{.lti35 4.2292 28.0291 0.03-568 0.15568 6.4235 4.4683
l.t 4.8371 0.:046 32.3926 0.03087 0.15087 6.6282 4.7317
]5 5.47-t(i 0.:827 37 .2797 0.02t 1i2 0. 1.1682 5.3 r 09 4.9803
16 5.i 304 0. 1631 42.7533 0.02-139 0. 143,19 6.9i40 5.2t47
t7 6.86ti0 {;.1,156 48.8837 0_02046 0. f .i0.t6 7.11e6 5.4353
18 7.6eA0 (i. i300 55.7197 0.01194 c.13i94 1.24e7 5.6427
t9 8.6128 0.1161 63.43q7 0.01576 0. r 3576 7.3658 s.8375
20 9.6163 ().1037 72.0524 0.013E8 0. I 3368 7.4691 6.0202
l1 10.8038 0.0926 iil .6987 0.0!?24 0.13224 '1
.5620 6. 19 l3
)2 12.1003 0.0826 92.50t6 0.0 i 081 0.13081 1.6146 6.3514
l3 13.5523 ().0738 104.6C29 0.00956 4.t2956 7.7181 6.5010
:-l t__s.1786 0.06-s9 I 18. l5i2 0.008.16 0. I 2846 7.7813 6.6406
l-i 17.0()r) I 0.051i8 133.33 r9 0.00750 4.127 50 7.843 I 6.'7:,)8
16 I 9.0"1{l I r1.0525 150.3339 0.00665 0.12665 .8957 6.891I
27 )1.3219 0.0469 169.3740 0.00590 0. 1 2590
7
7.9426 7.0049
28 23.88-19 0.041 9 190.6989 0.00524 0.12524 .9814 7. 1098
29 26.7499 0.0374 214.5828 0.00466 0.12466
7
8.0218 7.20'71
-10 29.9599 0.0334 241.3321 0.00414 0.12411 8.0552 7.2974
3r 33.555 t 0.0298 271.2926 0.00369 0.t2369 8.0850 7.3811
32 37.5817 0.0266 304.8477 0.00328 0.12328 8.r I 16
3-1 42.0915 0.0238 342.4291 0.00292 o.t2292
7.4586
ii.l354 .5302
-l-l 17.1125 0.a212 384.5210 0.00260 0.t2260 8. r566
7

35 52.79e6 0.01 89 431.66-15 0.00232 0.12272. 8. 1755

.5965
7
7.6577
36 59. I 3s6 0.0 i 69 184.463 1 0.00206 0.12206 8.1924 7.7141
37 66.2318 0.0151 513._s987 0.00184 0.1218.1 8.2075 7.7661
.18 71.1791 0.0 r 35 609.8305 0.00164 4.12161 8.2210 7.8 tJtl
39 83.0812 0.0 r :0 6E-1.0102 0.00146 0.12146 8.2330 7.8-s82
40 93.0510 0.0107 767.0914 0.00130 0.12130 8.2438 7.8988
48 230.3908 0.0043 l9l 1.5893 0.00052 0.12052 8.2972 8.124t
50 289.0022 0.0035 2400.0182 0.00042 0.12042 8.3045 8.1597

|:

i.
)
I
 662 Economic Evaluation and lnvestment Decision Methods

i= 15.007o

n F/Pi,n PlFi,n F/Ai,n A/Fi,n A./Pi,n P/Ai,n A./Gi,n

1 1.1500 0.8696 1.0000 1.00000 1.15000 0.8696 nla
2 t.3225 0.7561 2.1500 0.46512 0.61512 1.6257 0.4651
3 1.5209 0.6575 3.4725 0.28798 0.43798 2.2832 0.9071
4 1.7490 0.57 i 8 4.9934 0.20027 0.35027 2.8550 1.3263
5 2.0114 0.4972 6.7424 0.t4832 0.29832 3.3522 1.'7228
6 2.3131 0.4323 8.7537 0.1t424 0.26424 3.7845 2.0972
7 2.6600 0.3759 11.0668 0.09036 0.24036 4.1604 2.4498
8 3.0590 0.3269 13.7268 0.07285 0.22285 4.4873 2.7813
9 3.5179 0.2843 16.78s8 0.05957 0.20957 4.7716 3.0922
10 4.04s6 0.24'72 20.303'7 0.44925 0.19925 s.0188 3.3832
11 4.6524 0.2149 24.3493 0.04107 0.19107 5.2337 3.6549
L2 5.3503 0.1869 29.0017 0.03448 0.18448 5.4206 3.9082
13 6.1528 0.1625 34.3st9 0.02911 0.179t1 5.5831 4.1438
t4 7.0757 0.1413 40.s047 0.02469 A.17469 5.7245 4.3624
15 8.1371 0.1229 47.5804 0.02102 0.17 t02 5.84'74 4.5650
16 9.3576 0.1069 55.7175 0.01795 0.t6795 5.9542 4.7522
t7 10.761 3 0.0929 65.0751 0.01537 0.16537 6.0472 4.9251
18 12.3755 0.0808 75:8364 0.01319 0.16319 6.1280 5.0843
t9 t4.2318 0.0703 88.2118 0.01134 0.16134 6.1982 5.2307
20 t6.366s 0.0611 102.4436 0.00976 0.15976 6.2593 5.3651
2t r 8.821s 0.0531 118.8101 0.00842 0.15842 6.3125 5.4883
22
,1
2t.6417 0.0462 13't.63t6 0.00727 0.15727 6.3587 5.6010
24.8915 0.0402 159.2764 0.00628 0.15628 6.3988 53040
24 28.6252 0.0349 184.1678 0.00543 0.15543 6.4338 5.7979
25 32.9190 0.0304 212.7930 0.00470 0.15470 6.4641 5.8834
26 37.8568 0.026.1 215.7 1 20 0.00407 0.15407 6.4906 5.9612
27 43.5353 0.0230 283.5688 0.00353 0. I 5353 6.s 135 6.03 I 9
28 50.0656 0.0200 32'7.1041 0.00306 0.15306 6.5335 6.0960
29 51 .57 55 0.017,1 371.1697 0.00265 0.15265 6._5509 6.154t
.10 66.21 l8 0.015 r 434.'7451 0.00230 0.15230 6.s660 6.2066
31 76. 1,135 0.0131 500.9569 0.00200 0.15200 6.579t 6.254t
32 87.5651 0.0r l4 s77.100s 0.001 73 0.15 173 6.5905 6.2970
33 100.6998 0.0099 664.6655 0.00150 0.151s0 6.6005 6.3357
34 I 15.80,18 0.0086 765.3654 0.00r31 0.t5131 6.609 r 6.3705
3s 133.1755 0.0075 881.1702 0.00113 0.15113 6.6t66 6.4019
36 1-s3. 15 I 9 0.0065 1014.34s1 0.00099 0.15099 6.6231 6.4301
37 t76.t216 0.0057 t167.4975 0.00086 0.15086 6.6288 6.1554
38 202.5133 0.0049 1343.6222 0.00074 0.15074 6.6338 6.4181
39 232.9218 0.0043 1546.1655 0.00065 0.t5065 6.6380 6.4985
.t0 267.8635 0.0037 t7'79.0903 0.000s6 0.15056 6.6.+18 6.5168
48 8 r 9.4007 0.0012 5456.0047 0.000r8 0.150I8 6.6585 6.6080
50 1083.6574 0.0009 721'7.7163 0.00014 0.ls0l4 6.6605 6.6205
Aopendi>: ,q: Discrete lnterest, Discrete Value Faclors 663

i= ltt.007o

n F/Pi,n P/Fi,n F/Ai,n A/Fi,n A/Pi,n P/Ai,n A/Gi,n

1 .1 800 0.8475 1.0000 r.c00c0 1.18000 0.8475 nla
.,
3924 0.7182 2.1800 0.45872 0.638'72 1.5656 0.4587
3 .6{30 0.6086 3.5'724 0.271)'.)2 0.45992 2.1743 0.8902
I .9388 0.51s8 5.2t54 0.t9r14 0.37174 7.690t 1.2947
5 .2878 0.417t 7.1542 0.r3978 0.31978 1,t2'72 1.6728
6 i.t,996 0.3704 9.1420 0. ; 0591 0.28591 3.19i6 2.A252
7 I 1855 0.3139 t2.t4t5 0.0s236 0.26236 3.8115 2.3526
8 .r 7i89 0.2660 15.3270 0.06524 0.24524 4.0'176 2.6558
9 r.4355 0.2255 19.0859 0.05239 0.?3239 4.3030 2.9358
r0 5.2338 0.1911 23.5213 0.04251 0.22251 4.4941 3.1936
r1 6.t7 59 0.1619 28.7551 0.03478 0.2t4'78 4.6560 3.4303
t2 1.2876 0.13't2 34.9311 0.02863 0.20863 4.7932 3.6470
13 t.5994 0.1163 42.2t87 0.02369 0.20369 4.9095 3.8449
L4 tC.1412 0.0985 s0.8180 0.0r968 0.19968 5.0081 4.0250
15 t 1.9737 0.0835 (:0.9653 0.01640 0. r 9640 5.0916 4.1887
r6 il.l:90 0.0708 2.9390 0.01371
'/ 0.19371 5.1,624 1.3369
t7 t5.6i22 0.0600 87.0680 0.0u49 0. 19 149 5.2l.l1 .1.5916
l8 10 6733 0.0508 103 7403 0.00964 0.1 8964 5.2732 '1.4708
19 2:,2144 0.0.111 1:3..1135 0.00810 0.!8810 5.31'i2 4;70a3
:0 21.3930 0.0365 r46.6280 0.00682 c. l 8682 5 3527 4.7978

l1 32.3238 0.0309 ri 4.0210 u.00575 0. r 8575 5.3837 4.8851

a,
L"1421 0.0262 206.34+8 0.00485 0.18,185 5.4099 4.9632
'r1,
-15.0076 0.0222 2;14.4868 0.00.109 0. r 8409 5.4321 5.0329
24 :i.1090 0.0188 289.4915 0.001.15 0. I 8345 5.4s09 ,5.0950
:5 62.6686 0.0160 3.12.6035 0.0c292 0. r 8292 5.4669 5.1502
26 i3.9490 0.0135 405.272t 0.00247 0.1824^7 5.4804 5. I 99 I
27 8-7.2598 0.01 5
1 479 .2211 0.00209 0. l 8209 5.4919 5.2425
28 102.9666 0.0097 s66.4809 0.00 177 0.18177 5.5016 5.2810
29 121.500-5 0.0082 669.447 s 0.00149 0.r8149 5.5098 5.3149
30 1,13.3706 0.0070 7909180 0.00126 0.18126 5.5168 5.3448
31 169.1'714 0.0059 934.3 186 0.00107 0.18r07 55227 .37 12
5

32 199.6293 0.0050 1103.4960 0.00091 0.18091 5.52'17 5.3915

33 ?.35.5625 0.0042 1303.r253 0.00077 0. l 8077 s.5320 5.4149
34 217.9638 0.0036 r 538.6878 0.00065 0. l 8065 s.5356 5.4328
35 321.9913 0.0030 r 8 16.65 16 0.00055 0. I 8055 5.5386 5.4485
r6 3:7.0-1(r8 0.0026 2i44.64E9 00(10-17 0. r 8047 5.5412 5.4623
37 45b.7034 0.0022 2531.6857 0.00039 0. r 8039 5.5434 5.4744
38 51E.9 r00 0.0019 2988.3891 0.00033 0.1 8033 5.5452 5.4849
39 635.91-39 0.0016 3527.2992 0.00028 0.1 8028 5.5468 5.4941
40 750.3783 0.0013 4t63.2130 0.00024 0. r 8024 5.5482 5.5022
48 2820.s66s 0.0004 15664.2586 0.00006 0.1 8006 s.5s36 5.5385
50 3927.3569 0.0003 218t3.093't 0.00005 0. I 8005 5.5541 5.5428
 664 Economic Evaluation and Investment Decision Methods

i = 20.00Vo
n F/Pi,n PlFi,n F/Ai,n A/Fi,n A./Pi,n P/Ai,n A./Gi,n
1 1.2000 0.8333 1.0000 1.00000 1.20000 0.8333 nla
2 1.4400 0.6944 2.2000 0.45455 0.65455 1.52't8 0.4545
3 1.7280 0.5787 3.6400 0.27473 0.47173 2.1065 0.8791
4 2.0736 0.4823 5.3680 0.18629 0.38629 2.5887 1.2742
5 2.4883 0.4019 7.44t6 0. I 3438 0.33438 2.9906 L6405
6 2.9860 0.3349 9.9299 0.1007 I 0.30071 3.3255 1.9788
7 3.5832 0.2791 12.9159 0.07742 0.27742 3.6046 2.2902
8 4.2998 0.2326 t6.4991 0.06061 0.26061 3.8372 2.5756
9 5.1598 0.1938 20.7989 0.04808 0.24808 4.03 t 0 2.8364
10 6.1917 0.1615 25.9587 0.03852 0.23852 4.1925 3.0739
11 7.4301 0.1346 32]504 0.03110 0.23110 4.3271 3.2893
t2 8.9161 0.1122 39.5805 0.02526 0.22526 4.4392 3.4841
13 10.6993 0.0935 48.4966 0.02062 0.22062 4.5327 3.6597
t4 t2.8392 0.0779 s9.t9s9 0.0r689 0.21689 4.6106 3.8175
15 15.4070 0.0649 72.0351 0.01388 0.21388 4.6755 3.9588
16 18.4884 0.0541 87.4421 0.01144 0.21144 4.7296 4.0851
t7 22.1861 0.0451 1C5.9306 0.00944 0.20944 4.7746 4.1976
18 26.6233 0.0376 128.1167 0.00781 0.20781 4.8122 4.2975
19 31.9480 0.0313 154.7400 0.00646 0.20646 4.8435 4.3861
20 38.3376 0.0261 186.6880 0.00536 0.20536 4.8696 4.4643
2t
1)
46.0051 0.0217 22s.0256 0.00444 0.20444 4.8913 4.5334
55.2061 0.0181 271.0307 0.00369 0.20369 4.9094 4.5941
23 66.2474 0.0151 326.2369 0.00307 0.20307 4.9245 4.6475
24
,<
79.4968 0.0t26 392.4842 0.00255 0.20255 4.9371 4.6943
95.3962 0.0105 471.9811 0.00212 0.20212 4.9176 4.7352
26 114.4755 0.0087 s67.37'73 0.00176 0.20176 1.9s63 4.7709
27 137.3706 0.0073 681.8528 0.00147 0.20141 4.9636 4.8020
28 161.8447 0.0061 8t9.2233 0.001 22 0.20t22 4.9697 4.8291
29 197.8 t 36 0.005 r 984.0680 0.00 r02 0.20102 1.974',7 4.8527
30 237.3"163 0.0042 I181.8816 0.0008., 0.20085 4.9189 4.8731
3l 284.8516 0.0035 14t9.2s79 0.00070 0.20070 4.9824 4.8908
32 341.8219 0.0029 t'|04.1095 0.00059 0.20059 4.98s4 4.9061
33 410.1863 0.0024 204s.9314 0.00049 0.20049 4.9878 4.9191
34 492.2235 0.0020 2456.11"76 0.0004r 0.20041 4.9898 4.9308
35 s90.6682 0.0017 2948.3411 0.00034 0.20034 4.9915 4.9406
36 708.8019 0.0014 3539.0094 0.00028 0.20028 19929 4.9491
37 8s0.5622 0.0012 4247.8112 0.00024 0.20024 4.9941 4.9s64
38 1020.6717 0.0010 5098.373s 0.00020 0.20020 1.995t 1.9627
39 1224.8096 0.0008 6t 19.0182 0.000 r6 0.200r 6 4.99s9 4.9681
40 t469.1716 0.0007 7343.8s78 0.00014 0.200 r 4 4.9966 4.9728
48 6319.7 487 0.0002 3t593.7436 0.00003 0.20003 4.9992 4.9924
50 9100.4382 0.000 r 4s497 .1908 0.00002 0.20002 4.9995 4.9945
 Appendix A: Discrete lnterest, Discrete Value Factors 565

i= 25.$0Vo

n F/Pi,n P/Ti,n F/Ai,n A./Fi,n A/Pi,n P/Ai.n A/Gi,n

1 1.2i00 0.8000 1.0000 r.00000 1.25000 0.8000 nla
I l,-5n25 u.5400 2.2500 0 41444 0.69141 1.4400 0.1141
I i.t:31 0.5 120 3.8125 a 26230 0.51230 1.9520 0.852-5
1 2.,+":14 0.4096 5.7656 0.t7344 0.42341 2.3616 1.2249
-r 3.(j5lg a.327'/ 8.207A 0.12 r 85 0.37 r85 2.6893 1._s631
f! :,.3 l:17 0.2521 11.2588 0.08882 0.-13882 2.9514 1.8683
7 .i.7684 0.2i$7 15.07-15 0.06634 0.31634 3.1611 2.1424
{t 5.9605 0.16?8 19.8419 0.05040 0.30040 3.3289 23872
9 7.4506 0.t342 25.8023 0.03876 0.28876 3.4631 2.6048
r0 9 3132 0.1074 33.2529 0.03007 0.28007 3.5705 2.7971
l1 ll.64t5 0.0859 42.5661 0.02349 0.27349 3.6564 2.9663
12 1ri.5519 0.0687 54.2077 0.01845 0.2684s 33251 3.1145
13 iit.t899 0.0550 68.7596 0.01454 0.26454 3.7801 3.2437
l.r 22.1374 0.0440 86.9495 150
0.0r 0.26150 3.8241 3.3559
I ;i 0.0352 109.6868 009t2
28.i217 0 a.25912 3.8593 3.4530
16 3,< .5:71 0.0181 138.1085 0 00724 0.25724 3.8874 3.s366
t7 44.4089 0.0125 113.63s7. 0.00576 c.25576 3.9099 3.6084
18 55.51 12 0.0180 218.0446 0.00459 0.25459 3.92i9 3 b698
l9 69.,1ti89 0.0144 27i.s558 0.00366 0.2-s366 3.9421 3.7222
?0 86.7362 0.01 l5 342.9417 0.00292 0.25292 3.9539 3.7667
21 i 08.4202 0.0092 429.6809 0.00:33 0.25233 3.9631 3.8045
22 r35.5253 0.0074 538.101 I 0.00 t 86 0.25186 3.970s 3.8365
a1
169.-r066 0.0059 673.6264 0.c0148 0.25 148 3.9764 3.3634
21 2i1.7552 0.0047 813.0329 0.00r r9 0.25119 3.s81 I 3 8861
:s 26-1 6:; I8 0.0038 1tt54 7912 0.00095 0.25095 3.98,19 3.90s2
)6 330.r 722 0.0030 1319.4890 0.00076 0.25076 3.9879 3.9212
27 4l -3.5903 0.0024 1650.3612 0.0006 l 0.25061 3.9903 3.9346
2rJ 5 16.9879 0.0019 2063.9s15 0.00048 0.25048 3.9923 3.9457
29 616.2319 0.00r5 2580.9394 0.00039 0.25039 3.9938 3.9551
30 807.7936 0.0012 3227.1743 0.0003 r 0.25031 3.9950 3.9628
31 1009.7420 0.0010 4034.9678 0.00025 a.25025 3.9960 3.9693
32 1262.1771 0.0008 5044.7098 0.00020 0.2s020 3.9968 3.9't46
t577.72t8 0.0006 6306.8872 0.00016 0.25c16 3.99't5 3.9'791
34 1972.1523 0.0005 7884.6091 0.00013 0.25013 3.1980 3.9828
35 2465. 1 903 0.000.1 9856j613 0.000r0 0.25010 3.9984 3.98s8
36 308 r.4s79 0.0003 t2321.9516 0.00008 0.25008 3.9987 3.9883
37 3851 .8-599 0.0003 15403.4396 0.00006 0.25006 3.9990 3.9904
38 4814.8249 0.0002 t92s5.2994 0.00005 0.25005 3.9992 3.9921
39 6018.531 I 0.0002 24070.1243 0.00004 0.25004 3.9993 3.9935
40 '7523.1638 0.000 r 30088.6554 0.00003 0.25003 3.9995 3.9947
 666 Economic Evaluation and lnvestment Decision Methods

i = 30.00Vo
n - FlPi,n '
P/Fi,n tr'/Ai,n A./Fi,n A/Pi,n P/Ai,n A/Gi,n
I 1.3000 0.7692 1.0000 r.00000 1.30000 0.7692 nla
2 1.6900 0.s917 2.3000 0.43478 0.73478 r.3609 0.4348
3 2.t970 0.4552 3.9900 0.254$ 0.s5063 1.8161 0.8271
4 2.856t 0.3501 6.1870 0.16163 0.46163 2.1662 1.1783
5 3.7129 0.2693 9.0431 0.11058 0.41058 2.4356 1.4903
6 4.8268 0.20't2 t2.7560 0.07839 0.37839 2.6427 1.7654
7 6.2749 0.1594 17.5828 0.05687 0.35687 2.8021 2.0063
8 8.1573 0.1226 23.8577 0.04192 0.34192 2.9247 2.2t56
9 10.6045 0.0943 32.0tso 0.03124 0.33124 3.0190 2.3963
10 13.7858 0.072s 42.619s 0.02346 0.32346 3.0915 2.5512
11 17.9216 0.0558 56.4053 0.01773 0.31773 3.1473 2.6833
t2 23.2981 0.0429 743270 0.01345 03134s 3.1903 2.7952
13 30.2875 0.0330 97.6250 0.01024 0.31024 3.2233 2.889s
t4 39.3738 0.0254 127.9125 0.00782 0.30782 3.2487 2.9685
t5 51.1859', 0.0195 167.2863 0.00598 0.30s98 3.2682 3.0344
t6 66.5417 0.0150 218.4722 0.00458 0.30458 3.2832 3.0892
t7 86.5042 0.0116 285.0139 0.00351 0.30351 3.2948 3.1345
18 112.4554 0.0089 371.5180 0.00269 0.30269 3.3037 3.1718
t9 146.1920 0.0068 483.9734 0.00207 030207 3.3105 3.2025
20 190.0496 0.0053 630.165s 0.00159 0.30159 3.3158 3.2275
2t
),
247.0645 0.0040 820.2151 0.00122 0.30122 3.3198 3.2480
321.1839 0.0031 1067.2'796 0.00094 0.30094 3.3230 3.2646
23 4t7.5391 0.0024 1388.4635 0.00072 0.30072 3.3254 3.2781
24
't<
542.8008 0.0018 1806.0026 0.00055 0.300ss 3.3272 3.2890
705.64t0 0.0014 2348.8033 0.00043
_ 0.30043 3.3286 3.2979
26 917.3333 0.0011 3054.4443 0.00033 0.30033 3.3297 3.3050
1192.5333 0.0008 39'7 t.7776 0.00025 0.30025 3.3305 3.3107
28 1550.2933 0.0006 5 164.3 109 0.00019 0.30019 3.3312 3.3153
29 20 r 5.38 13 0.0005 6714.6042 0.00015 0.10015 3.3317 3.3 r 89
30 2619.99s6 0.0004 8729.9855 0.00011 0.3001 I 3.3321 3.3219
31 3405.9943 0.0003 1r349.9811 0.00009 0.30009 3.3324 3.3242
32 4127.7926 0.0002 147 s5.97 55 0.00007 0.30007 3.3326 3.3261
33 5756.1304 0.0002 19183.7681 0.00005 0.30005 3.3328 3.3276
34 7482.9696 0.0001 24939.8985 0.00004 0.30004 3.3329 3.3288
35 9727.8604 0.0001 32422.8681 0.00003 0.30003 3.3330 3.3297
I
i
a Apperr,;ix A: Discrete lnterest, Discrete Value Factors 667
!
x
j
]

f
rj i = 4$.ll{l%
j
n F/Pi.n P/Fi,n F/Ai,n A/Fi,n A/Pi,n P/Ai,n A/Gi,n
i r -1000 0.7143 1.0000 1.00000 L40000 0.7143 rla
: I (1600 0.5102 2.4000 0.41667 0.8 r667 1.2245 0.416',7
-r I 7-1.10 0.3644 4.3600 0.22936 0.62936 1.5889 0.7798
.i ti.4 6
..r . I 4.2603 7. r 040 0.14077 0.54011 1.8492 1.0923
5 5.37i3?. 0. l 859 10.9456 0.09136 0.19136 2.0352 1.3580
6 i 5295 0.1 328 16.3238 0.06126 0.46126 2. I 680 1.58 I I
7 iii.s:l 14 0.0949 23.8534 0.04192 0.14192 2.2628 t.7664
E 11.7579 0.0678 34.3947 0.02907 0.4290'1 2.3306 1.9185
9 _'.u.6610 0.0484 49.1s26 0.02034 0.42034 2.3790 2.0422
l0 28.9255 0.0346 69.8t37 0.0t432 0.41432 2.4136 2.1419
11 40.4957 0.0247 98;7391 0.01013 0.4r013 2.4383 2.2215
t2 56.6939 0.0176 139.2348 0.00718 0.40718 2.4559 2.2845
13 '79.3i 15 0.0126 195.9287 0.00510 0.40510 2.4685 2.3341
14 1t 1.1201 0.0090 275.3002 0.00363 0.40363 2.4775 2.3729
I5 1_s5.5681 0.0064 386.4202 0.00259 0.40259 2.4839 2.4030
16 Zt-i.i953 0.00.16 541.9883 0.00185 0.40185 2.4885 '.2.4262
Li l()4.9135 0.0033 159.7837 0.00112 0.40132 2.4918 2,4441
l8 .tro.37i{9 0.0023 1t)6,1.6971 0.00094 0.40094 2.4941 " 2.4577
19 -i!1.6304 0.00 I 7 t49t .57 60 0.00067 0.40067 2.4958 2.4682
20 b-r6.6826 0.0012 2a89.2064 0.00048 0.40048 2.4970 2.476r
l1 r l7 r.3556 0.0009 292s.8889 0.00034 0.40034 2.4979 2.4821
22 r5i9.8978 0.0006 4097.2445 0.00024 0.40024 2.4985 2.4866
13 2295.8569 0.0004 s737.1423 0.00017 0.40017 2.4989 2.4900
21 3214.1997 0.0003 8032.9993 0.00012 0.40012 2.4992 2.4925
25 4199.8796 0.0002 11247 .1990 0.00009 0.40009 2.4994 2.4914
i = 50.007a
n F/Pi,n P/Fi,n F/Ai,n A./Fi,n A./Pi,n P/Ai,n A/Gi,n
I L5000 0.666'7 1.0000 r.00000 r.50000 0.6667 nla
2 2.2s00 0.4444 2.5000 0.40000 0.90000 l.llrl 0.4000
3 3.3750 0.2963 4.7500 0.21053 0.71053 1.4074 0.7368
4 s.0625 0.19'75 8.r250 0. 1 2308 0.62308 1.6049 I .0154
5 7.5938 0.1317 13. I 875 0.07583 0.57583 1.7366 1.2417
6 I 1.3906 0.0878 20.7813 0.04812 0.54812 .8244 1.4226
7 17.0859 0.0585 32.t719 0.03108 0.53 108 8829 r.5648
8 25.6289 0.0390 49.2s78 0.02030 0.52030 9220 1.6752
I 38..+-1-14 0.0260 i 1.8867 0.0 r 335 0.5 r335 9480 1.1596
r0 ,57.6650 0.0173 1i3.3-101 0.00882 0.50882 9653 1.8235
Ir 86.4976 0.0116 170.99s1 0.00585 0.50585 1.9769 r.87r3
t2 129.7163 0.40i1 257.4927 0.00388 0.-s0388 1.9846 r .9068
l3 t 9-1.6195 0.00-s l 381 .2390 0.00258 0.502s8 t.9897 t.9329
I;l 2919293 0.0034 581.8585 0.00172 o.50172 1.9931 r.9519
t5 437.8939 0.0023 873.7878 0.00114 0.501t4 1.9954 t.9657
t6 656.8408 0.0015 1311.68r7 0.00076 0.50076 1.9970 1.9756
t7 985.26t3 0.0010 1968.522s 0.00051 0.5005 r 1.9980 1.9827
18 t417.8919 0.0007 29s3:t838 0.00034 0.s0034 1.e986 1.9878
19 2216.8318 0.0005 4431 .67 56 0.00023 0.50023 t .9991 1.9914
20 3325.2561 0.0003 6648.5 r 3s 0.0001 5 0.50015 1.9994 1.9940
 668 Economic Evaluation and lnvestment Decision Methods

i = 70.00Va
n F/Pi,n P/Fi,n F/Ai,n A./T.i,n A/Pi,n P/Ai,n . A/Gi,n
I 1.7000 0.5882 1.0000 r.00000 1.70000 0.5882
) 2.8900 0.3460 2.7000 nla
3 4.9130 0.2035 5.5900
0.37037 1.07037 0.9343 0.3704
4 8.3521 0.1197 10.5030
0. I 7889 0.87889 1.1378 0.6619
5 1 986 0.0704 18.855
0.09521 0.79521 1.2575 0.8845
14. 1 0.05304 0.75304 1.3280 t.0497
6 24.t376 0.0414 33.0537 0.03025 0.73025 1.3694
7 4 t .0339 0.0244 57.t912 0.01749 0.7 t7 49 1.3938
I . 1693
1.2537
8 69.7576 0.0143 98.22s1 0.01018 0.71018 I .4081 .3122
9 r 18.5879 0.0084 16't.982'7 0.00595 0.70595 t.4165
1

1.3520
10 201.5994 0.0050 286.5706 0.00349 0.70349 1.4215 1.3787
11 342.7 t90 0.0029 488.1699 0.00205 0.7020s 1.4244
12 582.6222 0.0017 830.8889 0.00120 0.70120 t.4261
1.3964
13 990.4578 0.0010 1413.51I I 0.00071 0.70071 t.4271
1.4079
t4 1683.7783 0.0006 2403.9690 0.00042 0.70042 1.4277
1.4154
15 2862.4231 0.0003 4087.7472 0.00024 0.70024 1.4281
1.4203
1.4233
i = 90.0A7o
n F/Pi,n P/Fi,n F/Ai,n A,/Fi,N A,/Pi,N P/Ai,n A./Gi,n
I 1.900 0.5263 1.0000 1.00000 1.90000 0.5263
2 3.610 0.2770 2.9000 0.34483 1.24483 0.8033
nla
3 6.859 0.1458 6.5100 0.15361 1.05361 0.9491
0.34.18
4 13.032 0.0767 13.3690 0.07480 0.97480 1.0259
0.5991
5 24.761 0.0404 26.40t1 0.03788 0.93788 1.0662
0.778'7
0.9007
6 47.046 0.0213 51.162t 0.01955 0.91955 1.0875
7 89.387 0.0112 98.2080 0.01018 0.91 0l I .0987
0.9808
l9
8 169.836 0.0059 187.5951 0.00533 0.90533
8
l. r 046
1 .03
9 322.688 0.0031 357.4308 0.00280 0.90280 t .107'7
1.0637
10 6l 3.107 0.00 16 680. I I 85 0.00147 0.90t47 r.1093
1.083 I
1.0948
11 I164.903 0.0009 1293.2251 0.00017 0.90077 1.1102 1.totl
12 22t3.31s 0.0005 2158.1277 0.00041 0.90041 l.l 106
13 4205.298 0.0002 4671.4426 0.0002 r 0.90021 1.r108
L l0-57
t4 7990.06',7 0.0001 8876.1410 0.000 r r 0.9001r r.1ll0
t.1080
15 l5l8l.l27 0.0001 I 6866.8078 0.00006 0.90006 l.t It0
1.1094
L1101
i = ll0.00Vo
n F/Pi,n P/Fi,n F/Ai,n A./Fi,n A/?i,n P/Ai,n A/Gi,n
1 2.100 0.4762 1.0000 1.00000 r0000 0.4762
2 4.410 0.2268 3.1000 0.32258
2.
1.12258
nla
0.'7029 0.3226
3 9.261 0. t 080 7.5 I 00 0.13316 .233 l6 0.8109 0.-5459
4 t9.118 0.05 r4 16.77 t0 0.05963
r
r.15963 0.8623 0.6923
5 -10.841 0.0215 36.2191 0.0276r t.t276t 0.8868 0.7836
6 ,35.766 0.01 l7 71.0601 0.0r 298 l.l t298 0.8985 0.8383
7 180.109 0.0056 162.8262 0.006 r4 1.10614 0.9040 0.8700
8 378.229 0.0026 342.9351 0.00292 1.10292 0.9067 0.8879
9 794.280 0.001 3 721 .1637 0.00139 l.l0l39 0.9079 0.8977
10 r 667.988 0.0006 |st5.4437 0.00066 r.1 0066 0.9085 0.9031
11 3s02.775 0.0003 3183.4318 0.0003 r l.t003l 0.9088 0.9059
t2 7355.828 0.0001 6686.2068 0.000 r 5 1.10015 0.9090 0.9075
 Appendix A: Discrete lnteresl, Disciete Value Factors 669

i= 130.007o

n F/?i,n P/Ti,n F/Ai.n A./Fi,n A./Pi,n p/Ai,n A"/Gi,n

I 2.300 0..13478 I 0000 1 00000 2.30000 0.43'18 nJa

2 s.:ro 0.18904 -3.3000 c.30-103 1.60-103 0.5238 0.3030
3 lt i67 0.08219 I5900 u.1 16-11 1.4164t 0.7060 0.5006
4 :;.qi4 0.0t573 2A 7510 0.0-18I 8 1.3.18 i 8 0.1417 0.6210
5 6i.i/:3 0.u1554 +Y.i4t1 0.0:c-52 t._12052 0.7i73 0.6903
6 148.tI6 0.00676 '.261.14()4
I 13.1045 0.00884 1.308E4 0.76-10 0.77'81
7 3-10..i.{3 4.00294 0.00383 l.30383 a]670 0.7486
8 783.1 l0 0.00128 601.6230 0.00166 1.30166 0 7682 0.7590
9 1801.i53 0.00056 1384.7328 0.00072 r.30072 0.7688 0.7642
r0 4142.651 0.00024 3185.8855 0.00031 l .30031 0.7690 01668
l1 9528.0e8 0.0rJ010 7328.5366 0.00014 1.30014 a.1692 0.7681
12 2t914.6)4 0.00005 16856.6342 0.00006 1.30006 0.7692 0.7687

i = 150.007o
n l'/Pi,n P/Fi,n F/Ai,n A/Fi.n A./Pi,N P/Ai.n .d'Gi,n
1 2.500 u..10000 i.0000 1.00000 2.50000 0.4C00 nla
2 6.250 0.16000 3.5000 0.:s5? r 1.78571 a.55ii0 0.2i57
3 15.6t5 0.06400 9.7500 0. 1ii256 ,.60256 0 5240 0.46 15
rt -39.J63 0.02-<60 25.37 50 0.039+ 1 I.53941 a.6$6 0.56i6
5 97.656 0.0 l 024 61 .137 5 0.01552 1.51552 0.6598 0.6149
6 2+1.1+1 0.004 0r 162.0938 0.006 r7 I .50617 0.66-19 0.6420
7 rrl0.i-:2 0.00 r 64 406.2311 0.00246 \.50216 0.66-s6 0.6552
ti 1525.879 0.00066 1016.5859 0.00098 r.50098 a.6662 0.6614
9 3814.697 0.00026 2542.4648 0.00039 r.50039 0.6665 0.6613
r 0 9536.713 0.00010 6351.1621 0.00016 r.500r6 0.6666 0.6656
1l 2384 r .858 0.00004 15893.9053 0.00006 1.50006 0.6666 0.6662
t2 s9601.64s 0.00002 39735.7632 0.00003 1.50003 0.6667 0.666s

i= 200.A0Vo

n F/Pi.n P/Fi.n F/Ai.n ArTi,n :!/Pi.n P/Ai.n A/Gi,n

I 1.000 0.33333 r.0000 1.00000 3.00000 0.3333 nla
2 9.000 0.1 il il 4.0000 0.25000 2.25000 0.4444 0.2500
3 27.000 0.03704 13.0000 0.07692 2.07692 0.48 r 5 0.3846
4 81.000 0.0 23s
r 40.0000 0.02500 2.42500 0.4938 0.4500
5 243.000 0.00412 t21.0000 0.00826 2.00826 0.4979 0.4'793

6 729.000 0.001 37 364.0000 0.00275 2.00275 0.4993 0.4918

7 2t87.000 0.00046 1093.0000 0.00091 2.0009r 0.4998 0.4968
8 650 1.000 0.000 5r 3280.0000 c.00030 2.00030 0.4999 0.4988
9 19683 000 0.00005 984r.0000 0.000 r0 2.00010 0.s000 0.499s
10 590.19.000 0.00002 2952.1.0000 0.00003 2.00003 0.5000 0A998
I