GL-4102 Manajemen dan

Keekonomian Mineral

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 EQUIVALENCE AND COMPOUND
INTEREST
EKUIVALENSI DAN BUNGA MAJEMUK

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• This chapter will examine the value of money at
different points in time - Bab ini akan membahas
nilai uang pada berbagai titik waktu.
• We will be able to compare the value of money at
different points in time - Kita akan dapat
membandingkan nilai uang pada waktu yang
berbeda.

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• We will be able to compare the value of money at
different dates, an ability that is essential to
engineering economic analysis - Kita akan dapat
membandingkan nilai uang pada waktu yang
berbeda, kemampuan yang sangat penting untuk
rekayasa analisis ekonomi.

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• We must be able to compare, a low-cost motor with
a higher-cost motor - Kita harus dapat
membandingkan motor dengan harga murah dan
yang lebih tinggi harganya.
• If there were no other consequences, we would
obviously prefer the low-cost one, but - Jika tidak
ada konsekuensi lain, kita jelas akan lebih memilih
yang berbiaya rendah, tetapi

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• If the higher-cost motor were more efficient and
thereby reduced the annual electric power cost, we
would be faced with the question of whether to
spend more money now on the motor to reduce
power costs in the future - Jika motor berbiaya lebih
tinggi lebih efisien dan dengan demikian mengurangi
biaya daya listrik tahunan, kita akan dihadapkan
dengan pertanyaan apakah akan menghabiskan lebih
banyak uang sekarang pada motor untuk mengurangi
biaya daya di masa depan.
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TIME VALUE OF MONEY

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• Which would you prefer, $100 cash today or the assurance of receiving
$100 a year from now?
• Money is quite a valuable asset.
• It is very valuable so that people are willing to pay to have money
available for their use.
• Money can be rented, the charge for its use is called interest instead of
rent.

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• If the current interest rate is 9% per year, and you put $100 into the
bank for one year, how much will you receive back at the end of the
year? - Jika tingkat bunga saat ini adalah 9% per tahun, dan
Anda memasukkan $100 ke bank selama satu tahun, berapa
banyak yang akan Anda terima kembali di akhir tahun?
• You will receive your original $100 with $9 interest, for a total of $109 -
Anda akan menerima $100 modal asli Anda dengan bunga $9,
jadi total $109.
• This is what so called a time value of money - Inilah yang disebut
nilai waktu (dari) uang.

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• When we are indifferent as to whether we have a quantity of money
now or the assurance of some other sum of money in the future, or
series of future sums of money, we say that the present sum of money
is equivalent to the future sum or series of future sums - Ketika kita
abai apakah kita memiliki sejumlah uang sekarang atau
jaminan sejumlah uang lain di masa depan, atau serangkaian
jumlah uang masa depan, kita mengatakan bahwa jumlah
uang sekarang setara dengan jumlah masa depan atau seri
jumlah ter masa depan.
• Equivalence is an essential factor in engineering economic analysis –
Ekuivalensi/kesetaraan adalah faktor penting dalam
analisis ekonomi rekayasa.

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FOUR PLANS FOR PAYMENT OF $5000 IN FIVE YEARS WITH INTEREST AT 8%
(a) (b) (c) (d) (e) (f)
Amount Interest owed Total owed at
owed at for that year end of year Principal Total
Year beginning of {8% x (b)} {(b) + (c)} payment end-of-year
year payment
Plan 1: At end of each year pay $1000 principal plus interest due.
1 $ 5000 $ 400 $ 5400 $ 1000 $ 1400
2 4000 320 4320 1000 1320
3 3000 240 3240 1000 1240
4 2000 160 2160 1000 1160
5 1000 80 1080 1000 1080
----- ------ ------
1200 5000 6200
Plan 2: Pay interest due at end of each year and principal at end of five years.
1 $ 5000 $ 400 $ 5400 $ 0 $ 400
2 5000 400 5400 0 400
3 5000 400 5400 0 400
4 5000 400 5400 0 400
5 5000 400 5400 5000 5400
------- ------- -------
2000 5000 7000
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FOUR PLANS FOR PAYMENT OF $5000 IN FIVE YEARS WITH INTEREST AT 8%
(a) (b) (c) (d) (e) (f)
Amount Interest owed Total owed at
owed at for that year end of year Principal Total
Year beginning of {8% x (b)} {(b) + (c)} payment end-of-year
year payment
Plan 3: Pay in five equal end-of-year payments.
1 $ 5000 $ 400 $ 5400 $ 852 $ 1252
2 4148 331 4479 921 1252
3 3227 258 3485 994 1252
4 2233 178 2411 1074 1252
5 1159 93 1252 1159 1252
----- ------ ------
1260 5000 6260
Plan 4: Pay principal and interest in one payment at the end of five years.
1 $ 5000 $ 400 $ 5400 $ 0 $ 0
2 5400 432 5832 0 0
3 5832 467 6299 0 0
4 6299 504 6803 0 0
5 6803 544 7347 5000 7347
------- ------- -------
2347 5000 7347
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 Equivalence
When we are indifferent as to whether we have a quantity of money now
or the assurance of some other sum of money in the future, or series of
future sums of money, we say that the present sum of money is
equivalent to the future sum or series of future sums - Ketika kita tak
acuh apakah kita memiliki sejumlah uang sekarang atau jaminan
sejumlah uang lain di masa depan, atau serangkaian jumlah uang masa
depan, kita mengatakan bahwa jumlah uang sekarang setara dengan
jumlah masa depan atau serangkaian jumlah masa depan.

All four repayment plans (Plans 1 to 4) must be equivalent to each other

and to $5000 now - Keempat (paket) rencana pembayaran (Rencana 1
hingga 4) harus setara satu sama lain dan menjadi $5000 sekarang.

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 Year Plan 1 Plan 2
1 -$ 1400 -$ 400
2 -1320 -400
3 -1240 -400
4 -1160 -400
5 -1080 -5400
---------- ----------
-$6200 -$7000

• If you were given your choice between the two alternatives, which one would you choose?
• The two plans have cash flows that are different.
• Plan 1: larger payments in the first four years, but the total payments are smaller than the
sum of Plan 2 payments - Rencana 1: pembayaran lebih besar dalam empat
tahun pertama, tetapi total pembayaran lebih kecil dari jumlah pembayaran
Rencana 2.
• To make a decision, the cash flows must be altered so that they can be compared - Untuk
membuat keputusan, arus kas harus diubah sehingga dapat dibandingkan .
• The technique of equivalence is the way to accomplish this - Teknik kesetaraan
adalah cara untuk mencapai ini. 14
Plan 1: at the end of each year pay $1000 principal plus interest due.

Year End-of-
year
payment
1 1400
2 1320
3 1240
4 1160
5 1080
6200

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Plan 2: pay interest due at the end of each year and principal at the end
of five years.

Year End-of-
year
payment
1 400
2 400
3 400
4 400
5 5400
7000
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Plan 3: pay in five equal end-of-year payments.

Year End-of-
year
payment
1 1252
2 1252
3 1252
4 1252
5 1252
6260

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Plan 4: pay principal and interest in one payment at the end of five
years.

Year End-of-
year
payment
1 0
2 0
3 0
4 0
5 7347
7347
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 The dollar-years for the four plans:
Dollar-years
Plan 1 Plan 2 Plan 3 Plan 4
(Money owed in year 1) (1 year) 5,000 5,000 5,000 5,000
(Money owed in year 2) (1 year) 4,000 5,000 4,148 5,400
(Money owed in year 3) (1 year) 3,000 5,000 3,227 5,832
(Money owed in year 4) (1 year) 2,000 5,000 2,233 6,299
(Money owed in year 5) (1 year) 1,000 5,000 1,159 6,803
Total dollar-years 15,000 25,000 15,767 29,334

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 The dollar-years for the four plans:

Total interest paid

Total interest Area under curve, Ratio: ---------------------------
Plan
paid, dollars dollar-years
Area under curve

1 1200 15,000 0.08

2 2000 25,000 0.08
3 1260 15,767 0.08
4 2347 29,334 0.08

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 Compound interest
i = Interest rate per interest period. In the equations the interest rate is
stated as a decimal (that is, 9% interest is 0.09) - Suku bunga per
periode bunga. Di dalam persamaan, tingkat bunga dinyatakan sebagai
desimal.
n = Number of interest periods.
P = A present sum of money.
F = A future sum of money. The future sum F is an amount, n interest
periods from the present, that is equivalent to P with interest rate i -
Jumlah uang masa depan. Jumlah F di masa depan adalah jumlah, n
periode bunga dari sekarang, yang setara dengan P dengan tingkat
bunga i.
A = An end-of-period cash receipt or disbursement in a uniform series,
continuing for n periods, the entire series equivalent to P or F at interest
rate I - Kuitansi atau pengeluaran kas akhir periode dalam seri yang
seragam, berlanjut selama n periode, seluruh seri yang setara dengan P
atau F dengan suku bunga i. 21
 Single payment formulas

Future sum = (present sum) (1+ i)n

F = P(1 + i)n

This is the single payment compound amount formula and is

written in functional notation as - Ini adalah rumus jumlah
gabungan pembayaran tunggal dan ditulis dalam notasi
fungsional sebagai

F = P(F/P,i,n)
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 Example No. 1
If $500 were deposited in a bank savings account, how much would be
in the account three years hence if the bank paid 6% interest
compounded annually?

P = $500 i = 0.06 n=3 F = unknown

F = P(1 + i)n = 500(1 + 0.06)3 = $595.50

30 31.8
F = 500 + (500*0.06) = 530 + (530*0.06) = 561.8
= 561.8 + (561.8*0.06) = 595.508
33.708
Receipts F=?

n=3
Disbursements P = 500 23
i = 0.06
 Example No. 2
If you wished to have $800 in a savings account at the end of four
years, and 5% interest was paid annually, how much should you put
into the savings account now?

P = unknown i = 0.05 n=4 F = $800

F = P(1 + i)n
P = F(1 + i)-n
= 800(1 + 0.05)-4 = 800 x 0.8227 = $658.16

Receipts F = 800

n=4
Disbursements P=?
i = 0.05 24
 Example No. 3

Consider the following situation:

Year Cash flow
0 +P
1 0
2 0
3 -400
4 0
5 -600
Solve for P using a 12% interest rate and using the Compound
Interest Tables. Recall that receipts have a plus sign and
disbursements or payments have a negative sign.

P = 400(P/F,12%,3) + 600(P/F,12%,5)
= 400(0.7118) + 600(0.5674)
= 625.16
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Example No. 3 (continued)

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Example No. 3 (continued)

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 Example No. 3 (continued)

Consider the following situation:

Year Cash flow
0 +P 625.16
1 0 75.02 700.18
2 0 84.02 784.20
3 -400 94.10 878.30 478.30
4 0 57.40 535.70
5 -600 64.28 599.98 0
Solve for P using a 12% interest rate and using the Compound
Interest Tables. Recall that receipts have a plus sign and
disbursements or payments have a negative sign.

P = 400(P/F,12%,3) + 600(P/F,12%,5)
= 400(0.7118) + 600(0.5674)
= 625.16
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 Example No. 3 (continued)
P = 400(P/F,12%,3) + 600(P/F,12%,5)
= 400(0.7118) + 600(0.5674)
= 625.16

P = ? i = 0.12 n = 3 and 5 F3 = $400 F5 = $600

F = P(1 + i)n
P = F(1 + i)-n
= 400(1 + 0.12)-3 + 600(1 + 0.12)-5
= $625.17
Receipts P

400
Disbursements 600
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 Alternate formation of example No. 3

Suppose at Year 0 you were offered a piece of paper that guaranteed you would be
paid $400 at the end of three years and $600 at the end of five years. How much
would you be willing to pay for this piece of paper if you wanted your money to
produce a 12% interest rate?
Year Cash flow
0 -P
1 0 Receipts 600
400
2 0
3 +400
4 0
5 +600 Disbursements P

P = F(1 + i)-n

P = 400(1 + 0.12)-3 + 600(1 + 0.12)-5 = $625.17

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 Usulan ToT untuk Dosen F/S ITB

1. Introduction and overview Technology Based Business

2. Analyzing the problem and offering alternative solutions in the
business context
3. Recognizing and Screening Technology Opportunities
4. Developing and Testing a Technology Business Concept
5. Building and validate the Business Model
6. Growth Hacking
7. How to Build a Brand
8. Revenue Models
9. Intellectual Property
10. Innovation Management & Commercialization
Dosen peserta TFL diminta mengajukan 3 usulan tema/sesi untuk disisipkan
dalam SAP mk terkait kewirausahaan, dengan tujuan akhir: pengembangan
teknipreneurship 31