Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

Exercise 43

Estimate the following by rounding each number to hundreds; then divide to get the exact answer.
You have just purchased a 65-acre ranch for a price of $780 per acre. In addition, the house was valued at $125,000 and the equipment amounted to $22,300.
a. What was the total price of your purchase?
b. Since the owner was anxious to sell, he offered to finance the ranch for you with a no-interest mortgage loan. What would your monthly payments be to pay off the loan in 10 years?
c. Besides the mortgage payment, you are required to make monthly property tax and insurance payments. If property tax is $3,000 per year and insurance is $2,400 per year, how much would these items add to your monthly expenses for the ranch?