Question

A 2 acre lot sold for $327,000. What was the price per square foot?* $0.87 (Dollars)* $3.75 (Dollars)* $2.10 (Dollars)* $8.70 (Dollars)

Answer 1

We have the price of a 2-acre lot that is sold for $327,000.

We have to find the price per square foot.

We will use this equivalency: 1 acre = 43560 square foot.

We can find the equivalent area as:

`A=2\text{ acre}*\frac{43560ft^2}{1\text{ acre}}=87120\text{ ft}^2`

We then can calculate the price per square foot by dividing the total price by the area:

`p=\frac{\$327000}{87120\text{ ft}^2}\approx3.75\text{ \$/ft}^2`

Answer: $3.75 [Second option]