Mastering Time Value of Money

Money literally has a time value and once you get this everything clicks.

A dollar today isn't the same as a dollar next year because of compound interest. Engineering economy

is just moving money through time using simple factors. Present worth brings everything to today.

Future worth pushes it forward. Uniform series handles repeating payments. Gradients deal with

increasing costs. When comparing projects just convert everything to the same point in time and pick

the better number. The whole subject looks scary but it's actually just one idea repeated

in different patterns. Master moving money through time and you've mastered the entire course.