USA HISTORY

MAKING OF A NEW NATION 1776 1800

THOMAS JEFFERSON

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The Louisiana Purchase sold for 3 cents an acre, in total it covered 530, 000, 000 acres. How much money is this?
A
16 million
B
22 million
C
7.3 million
D
15.9 million
Explanation: 

Detailed explanation-1: -On April 11, 1803, just days before Monroe’s arrival, Barbé-Marbois offered Livingston all of Louisiana for $15 million, which averages to less than three cents per acre (7¢/ha). The total of $15 million is equivalent to about $337 million in 2021 dollars, or 64 cents per acre.

Detailed explanation-2: -The United States purchased the Louisiana Territory from France at a price of $15 million, or approximately four cents an acre. The Louisiana Purchase Treaty was signed in Paris on April 30, 1803.

Detailed explanation-3: -In 1803 the United States paid France $15 million for the Louisiana Territory–828, 000 square miles of land west of the Mississippi River.

Detailed explanation-4: -Jefferson had only given Monroe and Livingston instructions to spend up to $10 million to purchase New Orleans and West Florida. But when the French offered them a $15 million deal for all of Louisiana, they consented immediately.

Detailed explanation-5: -The Louisiana Purchase encompassed 530, 000, 000 acres of territory in North America that the United States purchased from France in 1803 for $15 million.

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