Question: The below table shows the contractor's monthly revenue for constructing a small house which will take 6 months to erect. The contractor prepares an invoice

The below table shows the contractor's monthly revenue for constructing a small house which will take 6 months to erect. The contractor prepares an invoice and submits it every two months and gets paid one month later. If the advance payment is 18 % of total revenue, retention 16%, and Mark-up 20%. TIME (Month) 1 2 3 45 6 Monthly Revenue 29 55 27 37 37 47 The amount of the final payment (in thousands of Riyals) that the contractor receives is
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
