3. Natalie, Michelle and Leah have formed a partnership to start a specialty restaurant in the Ottawa area featuring Belgian Waffles and other Belgian Cuisine. Their initial investments were in the ratio of 5:7:11 respectively. Michelle's share amounted to $16750. They needed funds to lease a place, hire staff, and purchase equipment and furniture. After the successful opening of hte restaurant, Natalie made the suggestion that each of them contribute another $7500 to be used to market and promote the new venture. To cover additional expenses they decided to bring the total fo thier investment up to $87445 while maintaining their original proportion partnership. The partners agree that half of the annual profit would be shared equally and the other half be shared in the ratio of their original investments. The total profit, at the end of the first fiscal year was $39800. Natalie converted one-third of her profits to British pounds and saved the balanve in her bank in Ottawa. Michelle converted two-fifths of her profits to Swiss Francs (CHF) and saved the balance in her bank in Ottawa. Leah drove down to New York City and spent the equivalent of $3000 US on clothes and designer accessories On her return to Ottawa, she converted the rest to Euros at her bank and went on a vacation to France. Round all answers to the nearest dollar value. No decimals! Assume the following exhange rates in answering the questions: C$1=US$0.8996 C$1=0.5425 British pounds C$1=CHF 0.8063 C$1=0.6579Euros e. Their total portion of the profit from both halves for each was i. Natalie $ ii. Michelle $ iii. Leah $ f. How much did each partner exchange i. Natalie into British pounds $ ii. Michelle into Swiss Francs g. How much Canadian money did Leah have to convert to Euros? $ h. How many Euros did she get in exchange for her C$12815? 3. Natalie, Michelle and Leah have formed a partnership to start a specialty restaurant in the Ottawa area featuring Belgian Waffles and other Belgian Cuisine. Their initial investments were in the ratio of 5:7:11 respectively. Michelle's share amounted to $16750. They needed funds to lease a place, hire staff, and purchase equipment and furniture. After the successful opening of hte restaurant, Natalie made the suggestion that each of them contribute another $7500 to be used to market and promote the new venture. To cover additional expenses they decided to bring the total fo thier investment up to $87445 while maintaining their original proportion partnership. The partners agree that half of the annual profit would be shared equally and the other half be shared in the ratio of their original investments. The total profit, at the end of the first fiscal year was $39800. Natalie converted one-third of her profits to British pounds and saved the balanve in her bank in Ottawa. Michelle converted two-fifths of her profits to Swiss Francs (CHF) and saved the balance in her bank in Ottawa. Leah drove down to New York City and spent the equivalent of $3000 US on clothes and designer accessories On her return to Ottawa, she converted the rest to Euros at her bank and went on a vacation to France. Round all answers to the nearest dollar value. No decimals! Assume the following exhange rates in answering the questions: C$1=US$0.8996 C$1=0.5425 British pounds C$1=CHF 0.8063 C$1=0.6579Euros e. Their total portion of the profit from both halves for each was i. Natalie $ ii. Michelle $ iii. Leah $ f. How much did each partner exchange i. Natalie into British pounds $ ii. Michelle into Swiss Francs g. How much Canadian money did Leah have to convert to Euros? $ h. How many Euros did she get in exchange for her C$12815
