Question

A parcel of land is being sold for $25,000 per acre. You have a client interested in purchasing 100,000 square feet. How much will this cost?

Answer 1

The client interested in purchasing 100,000 square feet of land at $25,000 per acre will pay a total cost of $57,392.50.

Step-by-step explanation:

To calculate the cost for the client interested in purchasing a 100,000 square feet parcel of land being sold at $25,000 per acre, first convert the square footage to acres since the price is given per acre. There are 43,560 square feet in one acre. Therefore, we divide 100,000 square feet by 43,560 square feet per acre to get the acreage.

100,000 sq ft ÷ 43,560 sq ft/acre = 2.2957 acres (rounded to four decimal places)

Now, multiply the acreage by the cost per acre to find the total cost:

2.2957 acres × $25,000/acre = $57,392.50

So, purchasing 100,000 square feet of land would cost the client $57,392.50.