Mac loves the shape of quarters and is willing to trade money for them, even if he loses value. He tells his brother that he will trade him 3 dimes for a quarter or 7 nickels. He trades for 20 quarters with dimes and 20 quarters with nickels. How many dollars did Mac lose? Let's answer step by step:
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Three dimes is equal to $.3 because 3 x .1 = .3. Seven nickels is equal to $.35 because 7 x .05 = .35. Each time he trades with dimes he lose $.05 because .3 - .25 = .05. Each time he traded with nickels he lost $.1 because .35 - .25 = .1. He lost $1 from trading with dimes because 20 x .05 = 1. He lost $2 from trading with nickels because 20 x .1 = 2. He lost $3 total because 1 + 2 = 3. The answer: 3.
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