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 > University Publications > At Right Angles
Full Text Status:	Public
URI:	http://publications.azimpremjiuniversity.edu.in/id/eprint/3106
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