a person takes 10k gold bracelet weighing 80g to a gold buyer. the gold buyer offers them $1000 cash. calculate the value of the bracelet and determine if the person is losing money. assume the gold price $1400/oz. what is the answer?

Answer 1

454g = 1 Lb. = 16 oz.

80g/454g * 16oz = 2.82 oz. of gold.

1400/oz * 2.82oz = $____ = value of bracelet.