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

4 oz.

2 oz.

24 oz.

12 oz.

4 oz.

Explanation:

Gold currently trades at $800.00/oz.

A gold coin worth $3200.00 $3200.00 worth in oz

= $3200.00/$800

= 4 oz

At the current trading price of $800.00/oz, a gold coin of $3200 is worth 4 oz.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

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