If gold is currently trading at $800.00/oz. and you inherit a gold coin worth $3200.00, how much does the coin weigh?

Question

(1 point)
Responses

2 oz.
2 oz.

4 oz
4 oz

24 oz.
24 oz.

12 oz.

Answer 1

To find the weight of the gold coin, you can use the following formula:

\[ \text{Weight of the coin (in ounces)} = \frac{\text{Value of the coin}}{\text{Price per ounce of gold}} \]

Given that the value of the coin is $3200.00 and the price of gold is $800.00/oz, the calculation would be:

\[ \text{Weight} = \frac{3200}{800} = 4 \text{ oz.} \]

So, the coin weighs 4 oz.