Question: For a small construction project, you know: Contract Value = $110,000 Budgeted Cost = $100,000 Profit Margin = 10% Retainage = 5% (on the first

For a small construction project, you know:

For a small construction project, you know: Contract Value = $110,000 Budgeted Cost = $100,000 Profit Margin = 10% Retainage = 5% (on the first 50% of contract value) Annual Interest Rate = 8% What is the Maximum Retainage? 2750 3000 4000 2000

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