The total number of coins in the wallet, is:
[tex]5+3+8+4=20[/tex]Since there are 8 nickels and 4 pennies, there are 12 coins which are either nickels or pennies. Then, the probability of picking a nicle or a penny, is:
[tex]\frac{12}{20}=\frac{3}{5}[/tex]Multiply 3/5 by 240 to find the expected amount of times that a nicke or penny will be drawn:
[tex]\frac{3}{5}\times240=144[/tex]