Question

2. I have a bar of gold that is 7.0 in x 4.0 in x 3.0 in. The density of gold is 19.3 g/cm³.

The price of gold currently is $1,945.94 per ounce. How much is my gold bar worth?

Answer 1

First, we need to calculate the volume of the gold bar by multiplying its dimensions:

Volume = 7.0 in x 4.0 in x 3.0 in = 84 cubic inches

Next, we need to convert the volume to cubic centimeters, since the density of gold is given in grams per cubic centimeter:

1 cubic inch = 16.3871 cubic centimeters

So, the volume of the gold bar in cubic centimeters is:

84 cubic inches x 16.3871 cubic centimeters/cubic inch = 1379.45 cubic centimeters

Now we can calculate the mass of the gold bar by using the density formula:

density = mass / volume

Rearranging this formula, we get:

mass = density x volume

mass = 19.3 g/cm³ x 1379.45 cm³ = 26622.785 g

Finally, we can convert the mass to ounces and calculate the value of the gold bar:

1 ounce = 28.3495 grams

So, the mass of the gold bar in ounces is:

26622.785 g / 28.3495 g/oz = 939.09 oz

Therefore, the value of the gold bar is:

939.09 oz x $1,945.94/oz = $1,827,582.84

So the gold bar is worth approximately $1,827,582.84.