Real Estate Math
A 10,000 square foot commercial lot in downtown Provo sells for $1,200,000. What is the price per square foot?
A$120✓ Correct
B$12
C$1.20
D$1,200
Explanation
Price per sq ft = $1,200,000 ÷ 10,000 = $120 per square foot. Using the values given ($1,200,000), apply the appropriate formula.. The correct answer is $120.. This is a common calculation on the Utah real estate exam.
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