Question

A law firm has 3 partners. The first partner owns of the business, the second partner

owns of the business and the third partner owns of the business. The business is
worth $1.5 million. A new partner is introduced who contributes an additional
$300,000 and owns of the total value of the new business. What are the new values
for the first to the third original partners?what the answer​

Answer 1

To find the values for the original partners in the new business after a new partner is introduced, we need to calculate the percentage ownership of the new partner and use that to determine the new values for each partner.

Step-by-step explanation:

To find the new values for the original partners, we need to calculate the percentage ownership of the new partner in the business. Let's assume the total value of the new business is x. The new partner contributed an additional $300,000, so their ownership is 300,000/x.

• The first partner owns 30% of the business, so their new value is 30% of x plus their initial value.
• The second partner owns 20% of the business, so their new value is 20% of x plus their initial value.
• The third partner owns 50% of the business, so their new value is 50% of x plus their initial value.

To find the value of x, we can set up an equation: 300,000/x = 100%. Solving for x gives us x = $300,000.

• The new value for the first partner is 30%*$300,000 + $1,000,000.
• The new value for the second partner is 20%*$300,000 + $500,000.
• The new value for the third partner is 50%*$300,000 + $1,500,000.

Answer 2

The new values for the first to the third original partners is 27.7% each.

Step-by-step explanation:

At first, given that the law firm had 3 partners and was worth $ 1,500,000, it could be said that each of them had 1/3 part of the firm, worth $ 500,000 each.

Now, with the addition of a new partner who brought with him a capital of $ 300,000, the value of the firm becomes $ 1,800,000. In this context, the original partners go from having 1/3 of the firm each to having 5/18 of it. Now, in percentages, these partners went from having 33.3% each to having 27.7% of it, while the new partner entered the firm with 16.6% of its value.