#2854
An investor bought a block of lots to build on with each lot containing a 75 foot frontage.
The investor wants to sell the lots for $337,500 and keep two lots for himself.
What does the investor have to sell the lots per front foot for to realize the sale amount he's seeking ?
Take your time. The solution is below the wildlife photo.
A. $375.00 per front foot.
There are fourteen lots and the investor wants to keep two of them.
That leaves twelve lots for sale .
If each lot has a 75 foot frontage multiply 12 lots times 75 ft. or 12 times 75 for a total front footage of 900 front feet.
Now, let's divide the sale price the investor wants to realize from the sale of the twelve lots, $337,500, by the total number of front feet, 900, or 337,500 divided by 900, and we find that we have a price per front foot of $375.00.
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