SOLUTION: Suppose gold is selling at $375/ounce. How many milligrams of gold could you buy for one cent?

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Question 213762: Suppose gold is selling at $375/ounce. How many milligrams of gold could you buy for one cent?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose gold is selling at $375/ounce. How many milligrams of gold could you buy for one cent?
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1 oz = 28.349523125 grams
= 28349.523125 milligrams
($0.01/$375)*28349.523125 = 0.77599 milligrams
or 776 micrograms
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Gold is $995 per ounce, btw