Real Estate Math
A rectangular commercial lot in Indianapolis measures 80 feet by 120 feet. The seller wants $15 per square foot. What is the asking price?
A$108,000
B$120,000
C$144,000✓ Correct
D$160,000
Explanation
Area = 80 × 120 = 9,600 sq ft. Price = 9,600 × $15 = $144,000. Using the values given ($15), apply the appropriate formula.. The correct answer is $144,000.. This is a common calculation on the Indiana real estate exam.
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