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

Question

Quizplus · Accepted Answer

To find a reasonable offer, calculate the price per square foot of the comparable homes and apply it to the 2,200 square foot home. The average price per square foot is approximately $92.98. Multiplying this by 2,200 square feet gives an offer of about $204,600.

Nathaniel and Kimberly Want to Make an Offer on a 2,200