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Let's call the amount Jaquie raises "x". Since Jaquie earns $3 to Jordan's $1, this means that Jordan raises 3 times less than Jaquie. So Jordan raises x/3 dollars.
The total amount they raise is x + x/3 = $48.
To solve this equation, we can multiply through by 3 to get rid of the fraction:
3x + x = 3($48)
4x = $144
x = $144/4
x = $36
Therefore, Jaquie raises $36.
So the correct answer is $36.