North Carolina Building Contractor License Practice Exam

Calculate the value of the progress payment due for Tasks A, B, and C with the following values: Task A is worth $18,000 and is 16% complete, Task B is $6,500 and is 4% complete, and Task C is $45,000 and is 8% complete.

1. $3,408

2. $3,369

3. $4,268

4. $6,740

The correct answer is: $3,408

To determine the value of the progress payment due for the tasks, you need to calculate the earned value for each task by multiplying the total value of each task by the percentage completed. Then sum these amounts to get the total progress payment. For Task A: - The value is $18,000 and it is 16% complete. - Calculation: $18,000 * 0.16 = $2,880 For Task B: - The value is $6,500 and it is 4% complete. - Calculation: $6,500 * 0.04 = $260 For Task C: - The value is $45,000 and it is 8% complete. - Calculation: $45,000 * 0.08 = $3,600 Now, you add the earned values of all tasks to find the total progress payment: - Total = $2,880 (Task A) + $260 (Task B) + $3,600 (Task C) = $6,740 Therefore, the progress payment due for Tasks A, B, and C amounts to $6,740. Based on this calculation, the choice that reflects the correct total is indeed the one that represents $6