We have to calculate the area of a rectangular quilt.
area of a rectangle=length x width
Data:
length=60 in=60 in(1 foot/12 in)=5 ft
width=40 in=40 in(1 foot/12 in)=3.33 ft
Area of the rectangula quilt=(5 in)(3.33 in)=16.67 ft²
Now, we have to calculate the cost of this quilt
$1.50-----------------1 ft²
x------------------------ 16.67 ft²
x=($1.5 * 16.67 ft²)/1 ft²=$25
Answer: the cost of the rectangular quilt was $25