A $2.2 million contract has a 10% Advance payment, amortized at 25%, and a retention of 6%. The Contractor had completed a cumulative value of $604,000 worth of work on the project up to the previous month. If the contractor has requested payment for completing $138,000 worth of work this month. 

How much will this month's payment to the contractor be?

Answer rating: 100% (QA)

To calculate this months payment to the contractor we need to consider the advance payment the progr... View the full answer