The cost of money
Community Mathematics Centre, CoMaC (2015) The cost of money. At Right Angles, 4 (3). pp. 56-58. ISSN 2582-1873
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Abstract
In a post that appeared early in 2014 on the site http://mathforlove.com/2014/02/a-dollar-that-costs-adollar/, a very interesting and mathematically elegant question was posed which we study here. Consider the US coinage system (coins only; we do not include any notes of value $1 or more). We have the following coins: Penny (1 cent, $ 0.01), Nickel (5 cents, $ 0.05), Dime (10 cents, $ 0.10) and Quarter (25 cents, $ 0.25). Each of these coins is made of some metal or mixture of metals, and as such each one has a cost associated with it. After all, the metals in question have to be purchased from the market!
| Item Type: | Articles in APF Magazines |
|---|---|
| Authors: | Community Mathematics Centre, CoMaC |
| Document Language: | Language English |
| Uncontrolled Keywords: | Money, value, cost, multiple, factor, remainder, modulus |
| Subjects: | Natural Sciences > Mathematics |
| Divisions: | Azim Premji University - Bengaluru > University Publications > At Right Angles |
| Full Text Status: | Public |
| URI: | http://publications.azimpremjiuniversity.edu.in/id/eprint/3106 |
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