48. 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?
Answer: D
The total cost of the two parcels of land is $1,354,500.
To determine the combined cost of the two parcels, we need to calculate the price of each parcel separately and then sum them. The first parcel measures 5 acres, costing $2,100 per acre, totaling $10,500. The second parcel is 1 square mile, equivalent to 640 acres, costing $1,344,000. Therefore, the total cost is $10,500 + $1,344,000 = $1,354,500.
A) 766,000
This option is incorrect as it underestimates the total cost significantly. There is no calculation that could lead to this figure based on the land prices and sizes provided.
B) 914,760
Option B is also incorrect. This value does not reflect the correct calculations for either parcel of land and appears to be a miscalculation of the area or the price per acre.
C) 1,060,500
This option is incorrect as well. While it is a substantial amount, it does not correctly represent the total cost calculated from both parcels. The calculations leading to this figure do not align with the provided prices and dimensions.
D) 1,354,500
This option is correct. The first parcel costs $10,500 for 5 acres, and the second parcel, 1 square mile (640 acres), costs $1,344,000. Adding these amounts together gives the correct total of $1,354,500.
Conclusion
Option D is definitively correct as it accurately reflects the total cost of the two parcels based on the given prices and sizes. All other options fail to represent the correct calculations derived from the land's pricing and dimensions, making them invalid choices.