Answer:
0.756 mg gold
Explanation:
Data provided in the question:
Cost of gold = $375/ounce
also,
16 oz = 1 lb and 1 lb = 454 g
thus,
1 oz = [tex]\frac{1}{16}lb[/tex]
also,
[tex]\frac{1}{16}lb[/tex] = [tex]\frac{1}{16}\times454\ g[/tex] = 28.375 g
therefore,
now,
1 g = 1000 mg
therefore,
28.375 g = 28375 mg
and,
$1 = 100 cents
therefore,
$375 = 37500 cents
thus,
cost of 28375 mg gold = 37500 cents
or
37500 cents buys 28375 mg gold
or
1 cent buys [tex]\frac{28375}{37500}[/tex] mg gold
or
1 cent buys 0.756 mg gold
