From Grace: Daddy Warbucks always carries a specific number of $100 and $500 bills for impulse purchases and $1 bills for tips. If he has 500 bills in his briefcase and they total $50,000, how many bills of each denomination does he carry? Answered by Stephen La Rocque.
From Bob: Cashews are sold for 1.20 per 1/4 pound and Brazil nuts are sold for $1.50 per 1/4 pound. If you mix 20lbs of Brazil nuts, how many cahsews would it take to make a mix that sells for $1.30 per 1/4 pound? Answered by Penny Nom.
From A student: dulani has a new credit card. it says: you can get cash advances wherever you are. whenever you want. also if you pay off your balance in full each month for a small transaction fee, the cash is interest free. (see important information on reverse side. On reverese side it says:
cash advance transaction fee:
$500 or less 2.5%; $500.01 to $1000.00-2%; $1000.01 or more -1.5%; $2.00 minumum.
Annual percentage rater for cash advances 19.8%. dulani wants to know what a cash advance will really cost. Analyze the cash advance terms given here. how much would he pay for a $20 cash advance? What about a $450 cash advance? What annual interest rate are these charges equivalent to? choose other amounts. determine cost and annual ratees for these as well. make recommendations to dulani. Answered by Penny Nom.
Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.