A land developer is dividing 20 acres of land into 2/5 of an acre lots. If each lot is sold for $15,000, what is the total value of the 20 acres?
A $1,000,000
B $250,000
C $375,000
D $500,000
E $750,000
The total number of 2/5 acre lots in 20 acres is (20/(2/5)) = 20 * (5/2) = 50 lots.
If each lot is sold for $15,000, the total value of the 20 acres would be 50 lots * $15,000/lot = $750,000.
Therefore, the answer is E) $750,000.