Question

If a salesperson sells 3/4 of an acre for $80,000, what was the price per square foot rounded to two decimal spaces?

Answer 1

First, let's find out the price for each acre.

$80,000 ÷ 3/4 = $10,666.67 per acre

The conversion from acre to square foot is: 1 acre = 43,560 sq ft

$10,666.67 per acre * (1 acre/43,560 sq ft) = $0.25 per sq ft