Real Estate Math
A buyer agrees to purchase a lot that is 150 feet wide and 200 feet deep at a price of $3 per square foot. What is the total purchase price?
A$75,000
B$80,000
C$90,000✓ Correct
D$100,000
Explanation
Area = 150 × 200 = 30,000 sq ft. Purchase Price = 30,000 × $3 = $90,000. Using the values given ($3), apply the appropriate formula.. The correct answer is $90,000.. This is a common calculation on the Iowa real estate exam.
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