Engineering Economics
Pick up the correct reason for making conceptual (or preliminary) estimate from the following:

All of these
To check quotations from contractors and/or sub-contractors
To have a check on a definitive cost estimate
To compute target estimate for the owner while drawing and specifications are in initial stage

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

The first payment is made at the beginning of the first period.
Compound interest is paid on all amounts in the annuity.
The amounts of all payments are equal.
The payments are made at equal interval of time.

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