A building contractor obtained bids for some
Chapter , Problem 5-75(choose chapter or problem)
A building contractor obtained bids for some asphaltpaving, based on a specification. Three pavingsubcontractors quoted the following prices and termsof payment:Paving Co. Price Payment ScheduleQuick $85,000 50% payable immediately25% payable in 6 months25% payable at the endof one yearTartan 82,000 Payable immediatelyFaultless 84,000 25% payable immediately75% payable in 6 monthsThe building contractor uses a 12% nominal interestrate, compounded monthly, in this type of bidanalysis. Which paving subcontractor should beawarded the paving job?
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