Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

Rationale

The total cost of the two parcels of land should be $1,354,500.

To determine the total cost, we must first calculate the cost of each parcel. The 5-acre parcel costs $10,500, while the 1 square mile parcel, equivalent to 640 acres, costs $1,320,000. Adding these two amounts together gives us the total cost.

A (766,000) YOUR ANSWER

This amount does not accurately reflect the cost of either parcel. The 5-acre parcel alone costs $10,500, and the 1 square mile parcel is significantly higher in value. Therefore, this choice is incorrect as it does not account for the actual sizes and prices of the parcels.

B (914,760) YOUR ANSWER

This figure also falls short of the actual total cost. The 5-acre parcel at $2,100 per acre totals $10,500, and the 1 square mile parcel, which contains 640 acres, should cost $1,320,000. Thus, this option miscalculates the total significantly.

C (1,060,500) YOUR ANSWER

While this amount is closer to the total, it still does not represent the correct cost. The calculation does not include the correct price for the 1 square mile parcel, which alone costs $1,320,000, along with the cost of the 5 acres, leading to an incorrect total.

D (1,354,500) CORRECT

This is the correct total cost of the two parcels when calculated accurately. The 5-acre parcel costs $10,500, and the 1 square mile parcel costs $1,320,000, resulting in a combined total of $1,354,500.

Conclusion

The total cost of the two parcels combines the price of the 5 acres and the 1 square mile effectively, where $1,354,500 is the accurate sum. Each parcel's price reflects the land's size and per-acre cost, confirming that choice D correctly accounts for the total expenditure needed for both parcels.

Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

The total cost of the two parcels of land should be $1,354,500.

Related Questions

Related Quizzes

How familiar were you with this question?

Report an Issue

Rate this Practice Test