General Certification Exam Question Help

[Michigan CG]

4 acres retail = X
4 acres MF = 0.4X
2 acres SF = 0.2X

4X + .4(4X) + .2(2X) = $1.83(10)(43,560)

4X + 1.6X + .4X = $797,148

6X = $797,148

X = $132,858

5 acres = $664,290

The sale =
4 retail acres @ $132,858 X 4 = $531,432
4 MF acres @ $53,143 X 4 = $212,572
2 SF acres @ $26,572 X 2 = $ 53,143

TOTAL .................................$797,147

 

[Lawrence R.]

Well I dont know if its a trick question or not, but my colleague said none of those answers jived with the test. Please explain how you got to your answer please. Thanks for the help.

Ok. here goes.

Your given is that you have a sale of a property for 10 acres at 1.83/ft.

10 X 43560 x 1.83= 797,148. total sale price.

You are told that of that, 4 acres is retail, 4 is Mf and 2 is SFR.

So, 4 retail plus 4 MF plus 2 SFR= 797,148.

you are told that MF is 40% of REtail so, 4 MF= 1.6 Retail.

You are told that SFR is 20% of retail so 2 SFR= .4 retail.

So, 4 + 1.6 + .8 equals 6. 797148 divided by 6 = price per acre retail.

Times 5 for the 5 retail subject acres would be 664290.

This is not what I did yesterday, I did it algebraically yesterday.

Like this :

4x+1.6x+.4X=797148 6x=797148 x=132858 so 5x=664290.

Even though Tim and I came up with a different answer, our X values were the same. I am not sure how else you could come up with a per acre value for the retail portion of your subject any other way.

Are you sure they didn't want the total indicated value for the subject parcel? In that case, it would be:

664290 + 212572.8 + 53143.2 which is $930,006

Not sure how else you could come up with any other answer, but I await an education....

 

[JT1974]

Show this thread to your kid the next time they tell you that they will NEVER use algebra in "real life".

 

[Financially Feasible]

Show this thread to your kid the next time they tell you that they will NEVER use algebra in "real life".

I've been doing a lot of finish carpentry in my house. I have come up with one conclusion:

My kid WILL learn geometry when he/she gets older (no kids yet... expecting our first soon). :icon_mrgreen: