a millionaire leaves 1.4 million dollars in his will to be shared between his three children in the ratio of their ages. if they are 24,28,32 years old, calculate to the nearest dollar the amount they will each receive?
PLEASE HELP!!!
The ratio is 6:7:8
6 + 7 + 8 = 21
1.4 / 21 = 0.06667
6 * 0.06667 = 0.4000
Continue on.
how is the ration 6:7:8???
The ratio is 6:7:8 because 24/4 =6, 28/4=7 and 32/4=8. It is the HCF..
To calculate the amount each child will receive, you need to determine the ratio of their ages. In this case, the ratio is 24:28:32. To find the total ratio, you add these values together: 24 + 28 + 32 = 84.
Now, divide the inheritance ($1.4 million) by the total ratio (84) to find the value of one ratio unit: $1,400,000 / 84 = $16,666.67 (rounded to the nearest cent).
To find the amount each child will receive, you need to multiply their respective ages by the value of one ratio unit. Let's calculate it for each child:
- The 24-year-old: 24 * $16,666.67 = $400,000
- The 28-year-old: 28 * $16,666.67 = $466,666.76
- The 32-year-old: 32 * $16,666.67 = $533,333.28
Rounding these values to the nearest dollar, each child will receive approximately:
- The 24-year-old: $400,000
- The 28-year-old: $466,667
- The 32-year-old: $533,333