If gold is currently trading at $600.00/oz and you have a gold coin worth $5,400.00, how much does the coin weigh?

Question

(1 point)
Responses

9 oz
9 oz

4.5 oz
4.5 oz

18 oz
18 oz

48 oz

Answer 1

To find out how much the gold coin weighs, you can divide the value of the coin by the price of gold per ounce.

Given:

• Value of the gold coin = $5,400.00
• Price of gold = $600.00/oz

Weight of the coin = Value of the coin / Price of gold per ounce
Weight of the coin = $5,400.00 / $600.00/oz
Weight of the coin = 9 oz

The answer is 9 oz.