Joe Berry and Jane Rose received a total of $180,000 from a deceased relative's estate. They decided to put away $80,000 in a trust for their child and divide the remainder into 3/4 for Jane and 1/4 for Joe. How much will Jane receive?
A)$25,000
B)$75,000
C)$20,000
D)$80,000
E)None of these

Question

Quizplus · Accepted Answer

To find the amount Jane will receive, we first need to subtract the $80,000 in the trust from the total amount: $180,000 - $80,000 = $100,000.

Next, we need to find out how much of this $100,000 will go to Jane and how much will go to Joe. We know that the ratio is 3:1, so we can set up an equation:

3x + 1x = 4x

where x is the common factor.

4x = $100,000

x = $25,000

So Jane will receive 3 times x, or $75,000, and Joe will receive 1 times x, or $25,000. Therefore, the answer is B.

Joe Berry and Jane Rose Received a Total of $180,000