Answered: A contractor gets a bill for $545 for…

A contractor gets a bill for $545 for supplies purchased. The bill is notated1.5% 10/Net 30. What must be paid if the bill is paid within 10 days?

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter1: Introduction

Section: Chapter Questions

Problem 6RQ

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Concept explainers

Pricing Construction Equipment

Pricing construction equipment means estimating the cost of operation of all the construction equipment used in a construction project. The pricing is done based on two factors – ownership cost and operating cost of the equipment. Thorough knowledge of the ownership and operating costs is necessary for proper project management and executing profitable construction.

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A contractor gets a bill for $545 for supplies purchased. The bill is notated
1.5% 10/Net 30. What must be paid if the bill is paid within 10 days?

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