This is not school homework but an interesting situation I came across.
1) John bought income property A in London in 2005 for 100 pounds, 2) Dave bought income property B in Liverpool in 2006 for 60 pounds, inflation was 10% up from previous yearJohn & Dave became mutually partners on the AB = A+B pie. What % each does own of the pie?
Next,
3) Larry bought income property C in Manchester in 2007 for 75 pounds, inflation was up 5% from previous year.NOW, the 3 want to become mutually partners where the pie now is ABC A+B+C. What % each should have?
Looking for expert answer!
Mike