Two days ago, Jack asked to borrow 1 $100 bill from Mike. Now, Mike is asking for him to pay up, however Jack only has 1 $500 bill. Mike tells him that he can give him 4 $100 bills in change. Jack, annoyed by Mike pestering him, gives him 1 $500 and takes 4 $100 bills. However, now that Jack thinks back, he feels cheated. He thinks that he should have converted the money to a smaller domination (like 5 100s) and then give Mike the money. Despite Mike paying 4 $100 bills he still can buy something worth $500 with the bill. Was Jack cheated? Explain.