Question
It has been estimated that $8.0 \times 10^{4}$ tons of gold have been mined. Assume gold costs $\$ 1100$ per ounce. What is the total value of this quantity of gold?
Step 1
We know that 1 ton is equal to 2000 pounds and 1 pound is equal to 16 ounces. Therefore, the total weight of the gold in ounces is $8.0 \times 10^{4}$ tons $\times$ 2000 pounds/ton $\times$ 16 ounces/pound. Show more…
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