Describe the name of the local currency you are proposing and explain two benefits of using a local currency.
Describe the conversion bonus that you might offer to consumers encouraging conversion to your local currency.
Then, explain the function c(x) =____ you wrote to model the conversion of cash to your local currency.
Explain the importance of making your local currency available electronically and explain the transaction fee that
will be charged. Then, explain the function f(x) =____ you wrote to model the transaction fee and the function
t(x)=you wrote to model the amount a merchant will be able to keep after the transaction fee is deducted.
Describe the fee that will be charged for converting the local currency back to cash. Then, explain the function
p(x)=you wrote to model the amount an individual or merchant will receive in cash after converting the local
currency to cash.
Describe the cost of accepting the local currency from a merchant's point of view and explain
the composite function p(t(x)) =____ you wrote to show a function that will model the amount a merchant will keep
after converting the local currency into cash.
Write in the conclusion of your letter, one last appeal for adopting your proposed local currency.
While writing your letter, provide at least one sentence explaining each function you present.