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: 42

Answer

$\$ 8,689,406.25 $

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": $$ 5\% \times8,275,625+8,275,625=0.05 \times8,275,625+8,275,625=413781.25+8,275,625=\$ 8,689,406.25 .$$
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