Brian purchases two parcels: one square mile and five acres. If he paid $2,000 per acre, what is his total purchase price?

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Study for the Washington Real Estate Fundamentals Rockwell Exam. Utilize flashcards, multiple choice questions with hints and explanations. Prepare thoroughly for your real estate career!

Multiple Choice

Brian purchases two parcels: one square mile and five acres. If he paid $2,000 per acre, what is his total purchase price?

Explanation:
Converting all land to a common unit and multiplying by the price per unit is the key. One square mile equals 640 acres, so the two parcels total 640 + 5 = 645 acres. At $2,000 per acre, the cost is 645 × 2,000 = 1,290,000. The total purchase price is $1,290,000.

Converting all land to a common unit and multiplying by the price per unit is the key. One square mile equals 640 acres, so the two parcels total 640 + 5 = 645 acres. At $2,000 per acre, the cost is 645 × 2,000 = 1,290,000. The total purchase price is $1,290,000.

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