Nathaniel and Kimberly want to make an offer on a 2,200 square foot home that is priced at $212,000
They research other home prices and find the following information: a 2,400 square foot home sold for $220,000; a 1,800 square foot home sold for $168,000; a 2,000 square foot home sold for $185,000. Based on your analysis, what reasonable offer should Nathaniel and Kimberly make on the house? (Round all computations to the nearest dollar.)
A) $212,000
B) $200,400
C) $204,600
D) $194,000
Answer: C
Explanation: C)
$220,000/2,400 sq. ft. = $92 (rounded)
$168,000/1,800 sq. ft. = $93 (rounded)
$185,000/2,000 sq. ft. = $93 (rounded)
$278/3 = $93 sq. ft. × 2,200 sq. ft. = $204,600
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