Question

Three plots of farmland are for sale. Each plot is a different size. Which of farmland has the lowest price per acre? a) Plot A: 100 acres, $250,000 b) Plot B: 75 acres, $180,000 c) Plot C: 120 acres, $300,000 d) Plot D: 90 acres, $220,000

Answer 1

To find the plot of farmland with the lowest price per acre, calculate the price per acre for each plot and compare the values.

Step-by-step explanation:

To find the plot of farmland with the lowest price per acre, we need to calculate the price per acre for each plot. Price per acre is calculated by dividing the total price of the plot by the number of acres. Let's calculate the price per acre for each plot:

1. Plot A: Price per acre = $250,000 / 100 acres = $2500
2. Plot B: Price per acre = $180,000 / 75 acres = $2400
3. Plot C: Price per acre = $300,000 / 120 acres = $2500
4. Plot D: Price per acre = $220,000 / 90 acres = $2444.4444 (rounded to $2444.44)

From the calculations, we can see that Plot B has the lowest price per acre at $2400.

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