We can set up a simple ratio to solve this.
14 inches/84 cents = x inches / 48
14/84 = x/48
(14/84)*48 = (x/48)*48
(14/84)*48 = x (the 48's on the right side cancel out)
14*48 / 84 = x
672/84 = x
8 = x
You can buy 8 inches of wire with 48 cents.
Reason this works: The price is the same per inch, so both ratios should equal each other. (if you don't understand this let me know)