The last will of a family stated that assets would be divided on a 3.5: 1.6: 2.9 basis. If $60,000 of assets were sold, then the respective distributions are $26250,$12000,$21750.

Question

Quizplus · Accepted Answer

The total ratio is 3.5 + 1.6 + 2.9 = 8. The respective distributions should be calculated based on each part's proportion of the total $60,000. For the first part: ($60,000 * 3.5) / 8 = $26,250 is correct. However, for the second part: ($60,000 * 1.6) / 8 = $12,000 is incorrect, and for the third part: ($60,000 * 2.9) / 8 = $21,750 is incorrect. The correct calculation for the second and third parts should be based on their respective ratios, which seems to have been miscalculated or misstated in the question.

The Last Will of a Family Stated That Assets Would