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Real-Life Math -- Solution

To determine how much each family member would receive, it is first necessary to convert the percentage to a decimal. To do that, divide the total percentage the family members will receive by the total percentage (100).

20 / 100 = 0.20

Next, divide that decimal by the total number of family members who will receive a portion of the profits.

0.20 / 5 = 0.04

Now, to determine how much money that translates to in dollars, multiply the total dollar amount of profits by the decimal that represents how much each family member is entitled to receive.

$150,000 x 0.04 = $6,000

Each family member should receive $6,000.