Real Estate Math
A one-acre parcel sells for $87,120. How much is that per square foot? (1 acre = 43,560 sq ft)
A$1.00/sq ft
B$2.00/sq ft✓ Correct
C$4.00/sq ft
D$0.50/sq ft
Explanation
Price per square foot = $87,120 / 43,560 = $2.00/sq ft. Using the values given ($87,120), apply the appropriate formula.. The correct answer is $2.00/sq ft.. This is a common calculation on the Arizona real estate exam.
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