Question: Imagine you are creating a housing development in three phases. Development of the lots was to require 20% of the budget. Actual construction of the

Imagine you are creating a housing development in three phases. Development of the lots was to require 20% of the budget. Actual construction of the houses was to require 70% of the budget. Financing the sale of the houses (i.e. they are finished but not sold yet, so you have to cover the cost until they sell) was to require 10% of the budget. If you have an overall budget of $5 million, how much should be apportioned to each of phases?

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