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A necklace chain is 58.33% gold and weighs 0.54 ounce. What is the value of the chain's gold content if the price of gold is $1,279.60 per ounce?​

Sagot :

sqdancefan

Answer:

  $403.05

Step-by-step explanation:

You want the value of the gold in a 0.54 ounce gold chain that is 58.33% gold, when the price of gold is $1279.60 per ounce.

Ounces

The number of ounces of gold in the chain is ...

  58.33% × 0.54 ounces = 0.314982 ounces

Value

The value of that weight of gold is ...

  ($1279.60/ounce) × (0.314982 ounces) ≈ $403.05

The value of the chain's gold content is $403.05.

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