Answer:
$1,335.67 per front foot
Explanation:
First we must determine the total footage of the property = 5.5 acres x 43,560 feet² per acre = 239,580 ft²
Now we divide the total footage by the number of feet deep = 239,580 ft² / 400 feet deep = 598.95 front feet
Finally we divide $800,000 / 598.95 front feet = $1,335.67 per front foot
Price is termed as the cost or the amount that the individual pays to consume a unit of product or goods and services. The price per front foot of the property is $1,335.67.
There is a need to calculate the total square footage:
[tex]\text{Total Square Footage} = \text{Total acres} \times \text{Per Acre Rectangular Land}\\\\\text{Total Square Footage} = 5.5 \times 43,560'\\\\\text{Total Square Footage} = 239,580[/tex]
The property is 400 deep.
[tex]\text{Depth of the property} = \dfrac{\text{Total Square Footage}}{\text{Depth of the property}} \\\\ \text{Depth of the property}= \dfrac{239,580}{400'}\\\\ \text{Depth of the property} = 598.95\:\rm front\:\rm feet[/tex]
[tex]\text{Price of the front feet}= \dfrac{\text{Total price}}{\text{Depth of the property}.}\\\\\text{Price of the front feet} = \dfrac{\$800,000}{598.95' } \\\\ \text{Price of the front feet}= $1,335.67 \:\rm per \:\rm front \:\rm foot.[/tex]
Therefore, the amount to the front foot of the property is $1,335.67 per front foot.
Learn more about the computation of the front foot here:
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