Elementary Technical Mathematics

Published by Brooks Cole
ISBN 10: 1285199197
ISBN 13: 978-1-28519-919-1

Chapter 4 - Section 4.7 - Relative Error and Percent of Error - Exercise - Page 192: 41

Answer

$\$1,567,020.6$

Work Step by Step

We calculate the maximum acceptable bid by increasing the Architect's estimate by the percentage given in "maximum rate above estimate": $$ 8\% \times1,450,945+1,450,945=0.08\times1,450,945+1,450,945=116075.6+1,450,945=\$1567020.6 .$$
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