Solve the Problem Using Matrices $\$ 12.40$ How Many of Each Type of Coin Are There

question 300

Multiple Choice

Solve the problem using matrices.
-John has a jarful of quarters and nickels. There are 88 coins in the jar. The value of the coins is $\$ 12.40$ . How many of each type of coin are there?

• A) 45 quarters ; 43 nickels
• B) 40 quarters; 48 nickels
• C) 83 quarters; 5 nickels
• D) 48 quarters; 40 nickels

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Definitions:

Saving

The portion of income not spent on immediate consumption but set aside for future use, typically in bank accounts, investments, or other forms of financial savings.

Disposable Income

The spending and saving financial capacity of households after deductions for income taxes.

MPC

Marginal Propensity to Consume - the proportion of any additional income that is spent on consumption rather than being saved.

Consumption

The act of using goods and services for personal use, often considered in economic terms as an indicator of economic health.