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 should be $1,364,500.

To calculate the combined cost of the parcels, we first need to determine the cost of each parcel individually and then sum them up. The first parcel is straightforward, while the second parcel, measured in square miles, needs conversion to acres for accurate pricing.

A ($766,000) YOUR ANSWER

This amount does not account for the correct pricing of the second parcel. Calculating the cost of the 5-acre parcel at $2,100 per acre gives $10,500. However, the second parcel's cost, calculated incorrectly, leads to a total that is too low.

B ($914,760) YOUR ANSWER

While this amount might seem plausible, it underestimates the cost of the second parcel significantly. The cost of the first parcel is correctly calculated, but the second parcel, which is 640 acres (1 square mile), would cost $1,344,000. Thus, the total would again be miscalculated.

C ($1,060,500) YOUR ANSWER

This choice also miscalculates the cost of the second parcel. It correctly adds the first parcel's cost of $10,500 but fails to account for the full price of the second parcel, which should be $1,364,500 when both parcels are summed correctly.

D ($1,364,500) CORRECT

The correct calculation involves finding the cost of the 5-acre parcel at $2,100 per acre, which totals $10,500, and the second parcel's cost for 1 square mile (640 acres) at the same rate, totaling $1,344,000. Adding these gives a total of $1,364,500.

Conclusion

In summary, the total cost of the two parcels comes to $1,364,500 when calculated correctly. The first parcel costs $10,500 for 5 acres, and the second parcel costs $1,344,000 for 1 square mile. Together, these values confirm that option D is the accurate total cost of 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 should be $1,364,500.

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