A transportation engineer received a request to installed dynamic traffic signal

Question

A transportation engineer received a request to installed dynamic traffic signals to replace static vehicle control devices at an intersection. The engineer must prepare an estimate of an operating budget for a ten year period, if the signal were installed. The intial cost of the signals is $35,000 and the installation costs are $12,000. The estimated energy cost to operate the signals for the first year $1,000. The energy cost is expected to increase uniformly each year by 1.5% of the first year's energy cost. Assume an interest rate of 8%. What is the EAC for the operating budget? Salvage at the end of the ten year period is negligible.

Explanation / Answer

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