Question

Steve and elizabeth decide to become partners in a childrens cooking school. They need $80,000 for the franchise. They invest in a 3:4 ratio, respectively. How much did elizabeth invest?

Answer 1

`\$(320,000)/(7)\approx \$45,714.29.`

Explanation:

Steve and Elizabeth invest money in a 3:4 ratio, respectively. This means that Steve invests $3x and Elizabeth invests $4x.

They need $80,000 for the franchise, then

3x+4x=80,000,

7x=80,000

`x=(80,000)/(7).`

Thus, Elizabeth invests

`4x=4\cdot (80,000)/(7)=(320,000)/(7)\approx \$45,714.29.`