SOLUTION: I need to figure share of cost of paving a private road.
The road is 1100 feet long
The cost is $30,000
There are 7 neighbors responsible for cost based on how far down the road
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Question 1029660: I need to figure share of cost of paving a private road.
The road is 1100 feet long
The cost is $30,000
There are 7 neighbors responsible for cost based on how far down the road they live.
Neighbor 1 lives 300 ft down road
Neighbor 2 lives 400 feet down the road
Neighbors 3 and 4 live 700 feet down the road
Neighbors 5,6, and 6 live 1100 feet down the road
Can you help us?
Found 2 solutions by rothauserc, solver91311:
Answer by rothauserc(4718) (Show Source): You can put this solution on YOUR website!
Let N stand for neighbor
:
N1 = 300 / 1100 = 3/11 * 30000 = $8181.82
:
N2 = (400-300) / 1100 = 1/11 * 30000 = $2727.27
:
N3 and N4 = ((700-400) / 1100) * 30000 = (3/11 * 30000) / 2 = $4090.91
:
N5, N6, N7 = ((1100-700) / 1100) * 30000 = (4/11 * 30000) / 3 = $3636.36
:
********************************
N1 pays $8181.82
N2 pays $2727.27
N3 and N4 pay $4090.91 each
N5, N6, and N7 pay $3636.36 each
********************************
:
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
The first thing you need to do is to contact the paving contractor and ask him what portion of the $30K is fixed costs and what portion is dependent on the amount of road they are going to pave. The guy is going to charge you something for just driving out there with his crew and equipment, regardless of whether he paves 11 feet or 1100 feet, the rest of the bill is per foot or yard or whatever.
You need to divide the fixed cost portion evenly among the 7 families. Then family 1 pays 3.90% of the balance, family 2 pays 5.41% of the balance, families 3 and 4 each pay 10.87% of the balance, and families 5, 6, and 7 each pay 22.99% of the balance.
Send a reply and I'll send you a copy of the calculations in a spreadsheet.
John
My calculator said it, I believe it, that settles it
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