Solve the Problem. -Michael's Bank Contains Only Nickels, Dimes, and Quarters. There Are

question 21

Multiple Choice

Solve the problem.
-Michael's bank contains only nickels, dimes, and quarters. There are 51 coins in all, valued at \$4.15. The number of nickels is 5 short of being three times the sum of the number of dimes and quarters. How many dimes are in the bank?

• A) 8 dimes
• B) 37 dimes
• C) 13 dimes
• D) 6 dimes

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Definitions:

One-Shot Approach

A method or strategy applied only once, typically without the intention of repetition or long-term implementation.

Net Present Value

A financial metric used to evaluate the profitability of an investment or project, calculating the difference between the present value of cash inflows and the present value of cash outflows over a period.

Monthly Interest Rate

The interest rate reflected over a month period, often used for calculating the monthly interest payments on a loan.

Net Present Value

A financial metric indicating the value of all future cash flows of an investment, discounted back to present value.