In the early 1980s, planners were examining alter-nate

Engineering Economic Analysis | 12th Edition | ISBN: 9780199339358 | Authors: Donald G Newnan

Problem 9-13 Chapter 9

Engineering Economic Analysis | 12th Edition

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Engineering Economic Analysis | 12th Edition | ISBN: 9780199339358 | Authors: Donald G Newnan

Engineering Economic Analysis | 12th Edition

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Problem 9-13

In the early 1980s, planners were examining alter-nate sites for a new London airport. The economicanalysis included the value of structures that wouldneed to be removed from various airport sites.At one potential site, the twelfth-century Normanchurch of St. Michaels, in the village of Stewk- ley, would have had to be demolished.The plannersused the value of the fire insurance policy on thechurcha few thousand pounds sterlingas thechurchs value.An outraged antiquarian wrote to the LondonTimesthat an equally plausible computation wouldbe to assume that the original cost of the church(estimated at 100 pounds sterling) be increased atthe rate of 10% per year for 800 years. Based onhis proposal, what would be the future worth ofSt. Michaels? (Note:There was great public objec-tion to tearing down the church, and it was spared.)

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Textbook: Engineering Economic Analysis
Edition: 12
Author: Donald G Newnan
ISBN: 9780199339358

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