SOLUTION: Dick, Ed and Fran formed a partnership. The partnership agreement requires them to provide capital when and as required by the partnership in the ratio of 7:9:8, respectively. A

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Question 1165964: Dick, Ed and Fran formed a partnership. The partnership agreement requires
them to provide capital when and as required by the partnership in the ratio
of 7:9:8, respectively.
A. If the total required initial investment was $96,000, how much did each
contribute?
B. One year later, Dick's share of another injection of capital was $10,500.
What is the total investment made by the partnership including the initial
investment? What is Ed's share of the entire investment?
Answer by Edwin McCravy(20056)   (Show Source): You can put this solution on YOUR website!
Dick, Ed and Fran formed a partnership. The partnership agreement requires
them to provide capital when and as required by the partnership in the ratio
of 7:9:8, respectively.
A. If the total required initial investment was $96,000, how much did each
contribute?
When an amount is divided three ways in the ratio a:b:c, then the three
fractions of the amount are 

 

So Dick contributed 



Ed contributed 



and Fran contributed

B. One year later, Dick's share of another injection of capital was $10,500.
What is the total investment made by the partnership including the initial
investment? What is Ed's share of the entire investment?
Suppose the total investment was $N. Then

Dick contributed 





Multiply both sides by 24/7



Ed's share was 



Edwin
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