Question
Given the following information answer the questions below. Show all your work. You have received a total of $23,000 in progress payments to date. You
Given the following information answer the questions below. Show all your work. You have received a total of $23,000 in progress payments to date. You have performed $15,000 of reimbursable work this month (since the last payment). Your contract requires 8% retainage. The total contract amount was for $50,000. a) What is the total dollar amount of work performed prior to this request for payment? b) What is the total retainage held prior to this request for payment? c) Compute the progress payment for this month. d) What is the total amount of work performed to date?
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