Question

In: Advanced Math

2. The official currency of the Kingdom of Mathemagiclandistan is Shrute-bucks. Shrute-bucks bills come in denominations...

2. The official currency of the Kingdom of Mathemagiclandistan is Shrute-bucks. Shrute-bucks bills come in denominations of 3 and 5.

a.) What is the smallest amount of Shrute-bucks, n that can be made using Shrute-buck bills so that every amount greater than or equal to n can also be made using Shrute-buck bills?

b.) Use either the principle of mathematical induction or strong induction to prove your answer from a.)

Solutions

Expert Solution

a) 8 is the least possible amount that could be formed.
b) We can pick up a 3 and a 5 bill to form 8. That is the result hold for n=8. Now consider n=9, we add one to the previous combination. That one is absorbed into 5 and it turns 6. The amount 6 can be formed by using two 3 bills. So the new combination is 3+3+3. Hence the result hold for n=9 also.
Now assume the result for n, that is the amount is raisable. Then add one to it. It is either absorbed into a 5 or 3. If it is possible to absorb it into a 5, it turns 6 and then 6 is 3+3. Then the proof is over. If there is no any 5, we must have atleast three 3s out there (for n>9). Then one of the 3s absorb 1 and stay 4. Any other 3 can be decomposed into a 1 and a 2. The 1 thus formed is just added with 4 and turns 5. The 2 remained combines with an unbroken 3 to form a 5. That is, three 3s turned into two 5s in the combination when we perform the addition.
In both of these cases , we have an affordable decomposition. Hence the proof by induction.


Related Solutions

The Birr is the official currency of Ethiopia. The Wakandan dollar is the official currency of...
The Birr is the official currency of Ethiopia. The Wakandan dollar is the official currency of Wakanda. Both countries use flexible (floating) exchange rates If in Ethiopia the CPI increases from 160 to 167 while in Wakanda the CPI increases from 120 to 126, what do we predict? Answer: "we predict that the Birr will appreciate relative to the Wakandan dollar". Why? Thanks
The Treasury Department auctioned $10 billion in 3-month bills in denominations of $10,000 at a discount...
The Treasury Department auctioned $10 billion in 3-month bills in denominations of $10,000 at a discount rate of 3.000%. What would be the effective rate of interest?
Assume that 3-month Treasury bills totaling $18 billion were sold in $10,000 denominations at a discount...
Assume that 3-month Treasury bills totaling $18 billion were sold in $10,000 denominations at a discount rate of 4.600%. In addition, the Treasury Department sold 6-month bills totaling $16 billion at a discount rate of 4.545%. a. What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)...
Question: An ATM can only dispense bills of the following denominations: $500, $100, $50, $10, $5,...
Question: An ATM can only dispense bills of the following denominations: $500, $100, $50, $10, $5, and $1 When a user withdraws an amount from the ATM, the machine tries to dispense the amount using the least number of bills possible. For instance, if the user requests $1234, the ATM dispenses 2 bills of $500 + 2 bills of $100 + 3 bills of $10 + 4 bills of $1. On the other hand, if the user requests $1235, the...
ssume that 3-month Treasury bills totaling $13 billion were sold in $10,000 denominations at a discount...
ssume that 3-month Treasury bills totaling $13 billion were sold in $10,000 denominations at a discount rate of 3.650%. In addition, the Treasury Department sold 6-month bills totaling $11 billion at a discount rate of 3.595%. a. What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.) Discount amount for 3-month bills            $ b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your...
In determining the exchange rate of the country’s currency dominated by markets or by official action,...
In determining the exchange rate of the country’s currency dominated by markets or by official action, there are four categories: Soft pegs, hard pegs, residual, floating arrangements. Please describe the categories in short
Currency Crises in the United Kingdom and Hong Kong. please give this case study alternatives such...
Currency Crises in the United Kingdom and Hong Kong. please give this case study alternatives such , fiscal Policy with floating Exchange Rates. and specially focus on UK currency devaluation in the case given .
Currency crises in the United Kingdom and Hong Kong . please give Suggestion and alternative while...
Currency crises in the United Kingdom and Hong Kong . please give Suggestion and alternative while you are focusing on UK currency devaluation in the case given.  
The economy of Elmendyn contains 3,000 $1 bills. If people hold all money as currency, the...
The economy of Elmendyn contains 3,000 $1 bills. If people hold all money as currency, the quantity of money is --- If people hold all money as demand deposits and banks maintain 100 percent reserves, the quantity of money is----- If people hold equal amounts of currency and demand deposits and banks maintain 100 percent reserves, the quantity of money is--- If people hold all money as demand deposits and banks maintain a reserve ratio of 20 percent, the quantity...
The economy of Elmendyn contains 900 $1 bills. A. If people hold all money as currency,...
The economy of Elmendyn contains 900 $1 bills. A. If people hold all money as currency, the quantity of money is. B. If people hold all money as demand deposits and banks maintain 100 percent reserves, the quantity of money is. C. If people hold equal amounts of currency and demand deposits and banks maintain 100 percent reserves, the quantity of money is. D. If people hold all money as demand deposits and banks maintain a reserve ratio of 12.5...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT