Real Estate Math
A lot is described as 200 feet wide and 175 feet deep. The buyer paid $8.00 per square foot. What was the total purchase price?
A$240,000
B$260,000
C$280,000✓ Correct
D$320,000
Explanation
Area = 200 × 175 = 35,000 sq ft. Price = 35,000 × $8.00 = $280,000. Using the values given ($8.00), apply the appropriate formula.. The correct answer is $280,000.. This is a common calculation on the Idaho real estate exam.
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