Economics, Ventilation Fan Procurement, and SI Units Review

What is the definition of Compound Interest according to the lecture notes?

It is the interest paid on the total amount owning, including the principal and any accumulated interest.

How is a Sinking Fund defined?

It is the accumulated amount of yearly deposits at equal amounts at a certain rate of interest.

What is the definition of Present Value?

It is today's equivalent of a future lump sum payment.

How is Simple Interest calculated?

It is the interest paid on a sum of money borrowed, calculated on the basis of the original sum borrowed.

What is the Internal Rate of Return (IRR)?

It is the discount rate that equates the present value of the expected cash flows to the initial investment, meaning the discount rate at which the Net Present Value (NPV) is $0$.

What does Total Owning Cost (TOC) represent?

It is the total amount of money it costs to own a scheme at today's value.

Calculate the growth of a principal of $R2000$ invested at $11\%$ compounded annually after $5$ years.

Using $A = P(1 + i/100)^n$, where $P = 2000$, $i = 11$, and $n = 5$, the final sum is $A = 2000(1.11)^5 = R3370.12$.

What specific duties for a fan should be included in a Ventilation Fan Tender Document?

Initial duty, second duty, and third duty, along with the expected operating life of the fan at each duty.

According to the tender requirements, what codes should be used for testing fans?

Fans should be tested in accordance with British Standards (B.S. 848) or other agreed codes.

What specific curves must be shown in the Performance Curves section of a fan tender?

Pressure volume, power, and efficiency curves.

When stating fan volume in a tender, what is the typical stated density used as an example?

$1.2\,kg/m^3$.

What construction details must be specified for fans and evas{