How to Calculate Compensation for Land Purchase

Question:

If a county is offering $25 per front foot for a piece of land measuring 500 feet by 500 feet, how much will the homeowner receive?

Answer:

The homeowner will receive $50,000 for the purchase of 2000 front feet of land.

When calculating the compensation for the land purchase, we need to determine the total perimeter of the piece of land. In this case, the land is square-shaped with each side measuring 500 feet. To find the perimeter, we simply multiply the length of one side by 4, since there are 4 sides in a square.

Perimeter of the land = 4 * 500 feet = 2000 feet

Now, to find out how much the homeowner will receive, we multiply the total perimeter by the offered amount per front foot:

Total compensation = 2000 feet * $25 = $50,000

Therefore, the homeowner will receive $50,000 for the purchase of 2000 front feet of land.