Calculate how much each person invested

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Question - Caitlin, her spouse, and her mother jointly purchased an estate for $420,000. Their individual investments in the estate were in the ratio of 2 : 6 : 6, respectively.

a. Calculate how much each person invested.

b. Each of them decided to invest an additional $40,000 to develop the estate into a small family resort. Calculate their new investment ratio after the additional investment. Express the ratio in its lowest terms.

Reference no: EM133169559

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