Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mrs. Publinsky and her husband, Xander, are planning their dream house. The lot for the house sits high on a hill with a beautiful view

Mrs. Publinsky and her husband, Xander, are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the White Mountains. The plans show the size of the house to be 2,400 square feet. The average price for a lot and house similar to this one has been $147 per square foot. Fortunately, Xander is a retired plumber and feels he can save money by installing the plumbing himself. Mrs. Publinsky feels she can take care of the interior decorating. The following average cost information is available from a local bank that makes loans to local contractors and dispenses progress payments to contractors when specific tasks are verified as complete.

21 % Excavation and framing complete
7 % Roof and fireplace complete
4 % Wiring roughed in
5 % Plumbing roughed in
8 % Siding on
22 % Windows, insulation, walks, plaster, and garage complete
8 % Furnace installed
3 % Plumbing fixtures installed
9 % Exterior paint, light fixtures installed, finish hardware installed
2 % Carpet and trim installed
6 % Interior decorating
5 % Floors laid and finished

Calculate the estimated cost for the Publinskys house if they use contractors to complete all of the house. (Round the final answer to the nearest dollar.)

Calculate the estimated cost for the Publinskys house if they use their talents to do some of the work themselves (all plumbing and interior decoration). (Round the final answer to the nearest dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles And Applications

Authors: Sheridan Titman, John Martin

14th Global Edition

1292349824, 978-1292349824

More Books

Students also viewed these Finance questions

Question

Describe the five-stage model of group-development.

Answered: 1 week ago