Question

Suppose that you found a gold coin in your backyard and you wanted to determine

its value. You knew that gold was selling for $323.12 per ounce. You bring it to
lab and you weigh it. But the lab scale gives you the weight in grams. What is the
value of the coin if the weight was 8.7739 g? Use conversion factors on page 21.
8.7739 g

Answer 1

$99.99

Step-by-step explanation:

Given parameters:

Cost of gold per ounce = $323.12

weight of gold in the lab = 8.7739g

Solution

We need to first convert the mass of the weighed gold into ounces from grams:

1 gram = 0.03527oz

8.7739g = 8.7739 x 0.03527; 0.31oz

Since 1oz of gold is $323.12

0.31oz of gold will be 0.31 x 323.12 = $99.99