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