Since 4 = $3.88
Then 1 = 3.88/4
= $ 0.97
To do this, change into common denominators. The common denominator is 21 so change the problem from 1/3 + 1/7 to 7/21 + 3/21. This gives you 10/21. It is already in simplest form.
10 / 2 = 5
16 / 2 = 8
The equivalent ratio is 5:8