• Korean Journal of Social Welfare
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• v.41
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• pp.43-67
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• 2000

The main source in financing the National Pension benefits is the contribution raised from the insured's earnings. So, Most of the insured take a great interest in the questions of what return on the payment of contribution National Pension benefits provide and whether there be the difference in return according to earnings level. The Purpose of this study is to assess money's worth of National Pension and to answer the above questions. There are two basic types of money worth analysis, empirical and hopothetical. This study basically belongs to the former in terms that it is based on actual earnings and insured term. For performing money's worth analysis, four different measures which are referred as the "break-even period", the "benefit/tax ratio", the "net lifetime transfer", the "internal rate of return" are used and they all involve the way in which the relationship between the present value of contributions and the present values of benefit is present. The results which evaluate average money's worth of accrued rights before 1999 are le as follows. Break-even period is about 43 months, benefit/tax ratio being 4.9, net lifetime transfers being about 37 mil1ion won, internal rate of return being 33.2%. This verifies that money' worth of National Pension is much higher than actuarially fair. In the mean while, money' worth is proved to be very different according to earnings level. The progressivity relationship between earnings level and rate of return is found in all measures but net lifetime transfer.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.15 no.26
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• pp.159-163
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• 1992

The assumption of reinvestment rate leads to the results conflicting with the priority order of investments determined by net present worth. It has been revealed through various studies that the priority order of projects determined by the criteria based on internal rate of return is different from that determined by present worth. This study is to find out how to define reinvestment rate of return influencing the decision-making of the priority order through examining the meanings of reinvestment rate of capital and true rate of return, and to present some examples with a simple mathematical model.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.6 no.9
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• pp.27-33
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• 1983

This Paper represents time-dependent stochastic variations of common discounted cash flow formulae with explicit consideration given to inflation. The cash flow, the ratio of discounting or compounding, and the rate of inflation are allowed to vary with time in a random fashion in equations for the compound amount of a single payment, present worth of a single payment, amount of an annuity, periodic deposits to accumulate a future amounts, present worth of an annuity and capital recovery And all formulae are derived for the case of discrete random variations.

• Journal of the Society of Naval Architects of Korea
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• v.45 no.2
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• pp.221-228
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• 2008

This paper describes to determine optimum main particulars of warships which satisfy user's requirements in a concept design stage with minimum construction cost and maximum transportation efficiency. Present worth was used as an assessment criteria of the economical efficiency. And Pareto optimal set was used to have the optimum design.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.12 no.10
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• pp.950-961
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• 2000

The objective of this study is to develop optimal alternative selection model for renewing building equipments system. Cost Breakdown Structure of LCC in HVAC systems are deduced from resonable data and factors. As for Cost Breakdown Structure of LCC in HVAC system, pertinent level, title, CBS number, and block number are determined efficiently. Especially, in addition to current cost factor, it is possible to make Cost Breakdown Structure using present worth method more clear. A model of POWER LCC ver 1.0 used to analyze primary cooling system, heating system, and air conditioning system are POWER LCC ver 1.0_/sub SYSTEM/ : C1+ C2- C3+ C4+ C5+ C6+ C7±C8+ C9- C10/sub -1/+ C10/sub -2/+ C10/sub -3/, and is implemented with consideration of Cost Breakdown Structure and their summation using present-worth method. It is programmed with one of scientific languages, MATLAB 5.3.

• Journal of Korean Society for Quality Management
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• v.22 no.1
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• pp.113-121
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• 1994

Present worth of warranty cost for an irrepairable item is derived under free-replacement, prorata and hybrid warranty policies, respectively. In this paper, it is assumed that the lifetime distribution is a Gamma, and warranty period is not renewed but maintained as promised at the selling time regardless of replacements due to warranty contract. A numerical example on the relationship between present worth of warranty cost and mean time to failure is included.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.25 no.5
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• pp.9-14
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• 2002

A capital investment problem is essentially one of determining whether the anticipated cash inflows from a proposed project are sufficiently attractive to invest funds in the project. The net present value(NPV) criterion and internal rate of return(IRR) criterion are widely used as means of making investment decisions. A positive NPV means the equivalent worth of the inflows is greater than the equivalent worth of outflows, so, the project makes profit. Business people are familiar with rates of return because they all borrow money to finance ventures, even if the money they borrow is their own. Thus they are apt to use the IRR in preference to the NPV. The IRR can be defined as the discount rate that causes the net present value of a cash flow to equal zero. Why the project are accepted if the project's IRR is greater than the investor's minimum attractive rate of return\ulcorner Against the NPV, the definition cannot distinctly explain the concept of the IRR as decision criterion. We present a new definition of the IRR as the ratio of profit on the invested capital.

• Proceedings of the Society of Korea Industrial and System Engineering Conference
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• 2002.05a
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• pp.9-18
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• 2002

A capital investment problem is essentially one of determining whether the anticipated cash Inflows from a proposed project are sufficiently attractive to invest funds in the project. The net present value(NPV) criterion and internal rate of return(IRR) criterion are widely used as means of making investment decisions. A positive NPV means the equivalent worth of the inflows is greater than the equivalent worth of outflows, so, the project makes profit. Business people are familiar with rates of return because they all borrow money to finance ventures, even If the money they borrow is their own. Thus they are apt to use the IRR in preference to the NPV. The IRR can be defined as the discount rate that causes the net present value of a cash flow to equal zero. Why the project are accepted if the project's IRR is greater than the investor's minimum attractive rate of return. Against the NPV, the definition cannot distinctly explain the concept of the IRR as decision criterion. We present a new definition of the IRR as the ratio of profit on the invested capital.

• Nuclear Engineering and Technology
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• v.50 no.7
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• pp.1037-1042
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• 2018

The present study aims to assess the excess induced reactivity in a Miniature Neutron Source Reactor (MNSR) for a Beyond Design Basis Accident (BDBA) scenario. The BDBA scenario as defined in the Safety Analysis Report (SAR) of the reactor involves sticking of the control rod and filling of the inner and outer irradiation sites with water. At the end of the MNSR core life, 10.95 cm of Beryllium is added to the top of the core as a reflector which affects some neutronic parameters such as effective delayed neutrons fraction (${\beta}_{eff}$), the reactivity worth of inner and outer irradiation sites that are filled with water and the reactivity worth of the control rod. Given those influences and changes, new neutronic calculations are required to be able to demonstrate the reactor safety. Therefore, a validated MCNPX model is used to calculate all neutronic parameters at the end of the reactor core life. The calculations show that the induced reactivity in the BDBA scenario increases at the end of core life to $7.90{\pm}0.01mk$ which is significantly higher than the induced reactivity of 6.80 mk given in the SAR of MNSR for the same scenario but at the beginning of the core's life. Also this value is 3.90 mk higher than the maximum allowable operational limit (i.e. 4.00 mk).

• Journal of Korean Society for Quality Management
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• v.14 no.2
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• pp.40-46
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• 1986

The decision maker has the job of torecasting capital investments and operating expenses to aid the decision making in choosing and evaluating present and future alternatives. The estimating function eventually analysis, evaluates and choose the alternatives. The analysis stemmed originally from a preliminary design of some sort, and eventually plans are started to investigate investment possibilites. This study provide the descounted cash flow and the present worth method. Despite any choice of an analytical method, there remains the problem of predicting certain future events. Therefore, these models dealing with optimum plant sizing, equipment replacement, and lease or buy will be discussed.