Blaine is on vacation in New York City and wants to collect magnets of places he visits to give to all his friends. The Times Square magnets cost $2 each and come in sets of 4. The Statue of Liberty magnets cost $3 each and come in sets of 5. If Blaine buys 12 sets of each type of magnet, how much will he pay?

For Times Square magnets, we have that the price of each magnet is 2 dollars / magnet, there are 4 magnets / set, and Tom buys 12 sets. For Statue of Liberty magnets, the price is 3 dollars / magnet, there are 5 magnets / set, and Tom buys 12 sets

We can make a table of these values:

Magnets          Price ($$/magnets)        Set Size (magnets/set)         Quantity (sets)

T.S.                2                                  4                                        12

S. of L.           3                                  5                                        12

Now, we can use the formula

Total Cost = Number of Magnets Bought * Price = (Quantity * Set Size) * Price

So we see that

Cost of T.S. magnets = Quantity * Set Size * Price

                              = 12 sets * 4 magnets * 2 dollars = $96

                                                      set          magnet

Cost of S. of L. magnets = Quantity * Set Size * Price

                                  = 12 sets * 5 magnets * 3 dollars = $180

                                                          set          magnet

So the total amount spent was $96 + $180 = $276.

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