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A woman borrowed $2000 and agreed to repay it atthe end of

Engineering Economic Analysis | 12th Edition | ISBN: 9780199339273 | Authors: Donald G. Newnan; Jerome P. Lavelle; Ted G. Eschenbach ISBN: 9780199339273 93

Solution for problem 3-2 Chapter 3

Engineering Economic Analysis | 12th Edition

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Engineering Economic Analysis | 12th Edition | ISBN: 9780199339273 | Authors: Donald G. Newnan; Jerome P. Lavelle; Ted G. Eschenbach

Engineering Economic Analysis | 12th Edition

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Problem 3-2

A woman borrowed $2000 and agreed to repay it atthe end of 3 years, together with 10% simple interestper year. How much will she pay 3 years hence?

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3/30/16: Stalin’s “Revolution from Above.” 1 Stalin’s “Revolution from Above”. ***test questions**  Conditions of everyday life for industrial workers. o 1929­1935:  Food rationing.  Consumer goods were in short supply.  Clothes.  Shoes.  Home goods.  Very little emphasis placed on consumer goods.  Collectivization of Agriculture —Stalin’s objective. o His goal was to transform from an agricultural for a greater output for the land.  Feed industrial workers.  Export grain in order to obtain equipment. o Orders to peasants.  Give up their private land and their livestock.  Relocated. o Collective farms.  Transformed private agriculture into state­run collective farms.  Set on farms to meet quotas.  They were allowed to have a little land for themselves and animals for themselves.  Begun in 1929.  By 1935 collectivization was complete in most areas of the Soviet Union.  Resistance from kulaks.  Term that came to be used for peasants who resisted collectivization.  Burnt their fields and killed their livestock in order to resist Stalin. o ½ of the horse population was slaughtered during the resistance.  Steel horse led to the development of the tractor to work on the fields. o They were seen as an impediment to progress.  Stalin’s response:  Forced labor. o Stalin did what he wanted regardless of other human thoughts. o “Liquidate them as a class”.  Several hundred thousand were killed.  About 2 million were sent to labor camps. 3/30/16: Stalin’s “Revolution from Above.” 2  The labor camp system was known as the gulag.  1932­33: o Let nature run its course and let people die.  Famine in the southern region of the Soviet Union.  The 1933 famine claimed some 3­5 million lives.  Stalin’s methods for achieving his revolution: o (1) Terror.  Written our death warrants for his implement of terror on those he thought were enemies of his revolution.  Stalin’s view on terror (handout).  To choose one’s victims, to prepare one’s plans minutely…and then to go to bed… there is nothing sweeter in the world.  An Enemy of the People is not only one who does sabotage but one who doubts the rightness of the Party line. And there is a lot of them and we must liquidate them  1937­38:  The “Great Terror”. o Campaign to purge people who are an enemy of the people.  Essential to the success of the country.  People from all rules of life were considered an enemy. o Nearly 1 million people killed. o 1.5 million people sent to labor camps. o (2) Propaganda:  A.O. Advienko:  Everything he has and everything he is, is because of Stalin.  Stalin is the new God in the Soviet Union.  Be willing to work hard and sacrifice for Stalin. o “The cult of Stalin”. o Other examples.  Romance novels.  Paintings. o (3) Rewards for Stakhanovites:  Make people work harder for their goods. 3/30/16: Stalin’s “Revolution from Above.” 3  ‘Heroes of labor’ (handout).  Extra rations.  Housing.  Special resort places.  Priority access of all kinds.  Automobiles.  Rewarded directly with consumer goods: o Lengths of cloth. o Sewing machines. o Gramophones. o Cars.

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Chapter 3, Problem 3-2 is Solved
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Textbook: Engineering Economic Analysis
Edition: 12
Author: Donald G. Newnan; Jerome P. Lavelle; Ted G. Eschenbach
ISBN: 9780199339273

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A woman borrowed $2000 and agreed to repay it atthe end of