Engineering Economics is the application of economic principles to the evaluation of engineering design and the selection of technical alternatives. (a) Starting a new business requires many decisions. List five examples of decisions that might be assisted by engineering economics analysis based on the current economics situation. (10) (b) Suppose that a father, on the day his son is born wishes to determine what lump amount would have to be paid into an account bearing interest of 12% per year to provide withdrawals of RM 2000 on each of the son's 18, 19, 20 and 21 birthdays. Draw a cash flow diagram and find the lump sum amount. Please do fast ASAP fast

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Engineering Economics is the application of economic principles to the evaluation of engineering design and the selection of technical alternatives. (a) Starting a new business requires many decisions. List five examples of decisions that might be assisted by engineering economics analysis based on the current economics situation. (10) (b) Suppose that a father, on the day his son is born wishes to determine what lump amount would have to be paid into an account bearing interest of 12% per year to provide withdrawals of RM 2000 on each of the son's 18, 19, 20 and 21 birthdays. Draw a cash flow diagram and find the lump sum amount. Please do fast ASAP fast
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