Final answer:
Each person will receive $6,720, $7,680, and $9,600, respectively.
Step-by-step explanation:
To find out how much money each person will receive, we first need to find the total number of parts in the contribution ratio, which is 7 + 8 + 10 = 25. Next, we divide the total winnings of $24,000 by the total number of parts, which gives us $24,000 / 25 = $960 per part. Finally, we multiply the amount per part by the individual ratios to find the amount each person will receive:
Person 1: 7 parts x $960 = $6,720
Person 2: 8 parts x $960 = $7,680
Person 3: 10 parts x $960 = $9,600
Therefore, each person will receive $6,720, $7,680, and $9,600, respectively.