Answer:
Reed has $ 0.60
Step-by-step explanation:
Number of quarters Reed has = x
Number of pennies Reed has = x + 8 (Reed has 8 more pennies than quarters)
We can write the following equation to solve for x, as follows:
x + 8 = 5x (He saved 5 times as many pennies as quarters)
x - 5x = -8
-4x = - 8
x = -8/-4
x = 2 ⇒ x + 8 = 10
Reed has 2 quarters and 10 pennies, therefore he saved:
Savings = 2 * 0.25 + 10 * 0.01
Savings = 0.50 + 0.10
Savings = 0.60
Reed has $ 0.60
