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Meaning of estimated cost
The primary meaning of "estimated cost" refers to the approximate amount of money expected to be spent on something.
Etymology of estimated cost
The word "estimated" comes from the Latin "aestimare," which means "to value" or "to appraise."
The term "cost" originates from the Old French "coster," meaning "to stand at a price," and the Latin "constare," meaning "to stand at" or "to be priced at."
The phrase "estimated cost" has been in use since the 15th century, initially in the context of trade and commerce, and has evolved to encompass various fields, including engineering, economics, and finance.
Synonyms
Definitions
- The estimated cost is the amount of money that is expected to be spent on a particular project, activity, or item, based on available information and calculations.
- * It is a predicted or forecasted expenditure that may not be exact but gives a rough idea of the financial outlay required.
Usage Examples
- The company provided an estimated cost for the construction project, which helped the client plan their budget.
- * The estimated cost of the new equipment was higher than expected, so the company had to adjust their financial plans.
- * The engineer calculated the estimated cost of the materials and labor required for the project.