In one month your costs on a project are $615,098 and you are applying for payment. You are marking up 5 percent for profit. The owner is withholding 11 percent for retainage from every payment. Calculate the amount you expect to receive from the owner. In the table in our book or in examples this would be the "invoice amount" at the end of the month. Report your answer to the nearest dollar.
In one month your costs on a project are $615,098 and you are applying for payment. You are marking up 5 percent for profit. The owner is withholding 11 percent for retainage from every payment. Calculate the amount you expect to receive from the owner. In the table in our book or in examples this would be the "invoice amount" at the end of the month. Report your answer to the nearest dollar.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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