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Showing posts from December, 2010

Printing Money: A Better Way

Image via WikipediaSince the United States really likes to print money, thought I would do our civilization a favor and calculate the optimal set of bank notes to produce the fewest numbers of notes needed for any amount of cash under $1000. (You're on the edge of your seat, aren't you?)
Current State of AffairsIn the United States, there are six bills currently in fair-to-wide circulation: $1, $5, $10, $20, $50, $100. If you were to always use the biggest bills possible, then the average number of bills you would use on a given transaction where the total was less than $1000 (this is also assuming that all dollar amounts are equally likely) is 8.71. The most number of bills you would need would be for $999 => 9 $100 bills, 1 $50 bill, 2 $20 bills, 1 $5 bill, and 4 $1 bills. That's 17 bills. We can take that number down to 13 by introducing the $500, which I did for comparison's sake.

The Currency Mapper

So like any devoted computer programmer, I created a webpag…