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Problem 77 Hard Difficulty

Would you agree to buy 1 trillion $(1,000,000,000,000)$ gold atoms for $\$ 5 ?$ Explain why or why not. Find the current price of gold at http:/money.cnn.com/data/commodities/ (1 troy ounce $=31.1 \mathrm{g} )$

Answer

No.

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Video Transcript

this question asks whether or not you would buy one trillion gold atoms for $5 why or why not? And it was basically asking you, Is the cost per ounce at $5 per trillion atoms greater than or less than the current cost of gold crowns? So let's see what you would be paying per ounce if you bought one trillion atoms for $5. It's a one trillion can be Whitney as one times 10 to the 12 Adams. And of course, we don't know golden cost per Adam. We do know it and cost per ounce. Let's convert two outs. The first step would be to convert from Adam's two moles. We know that six 0.2 times 10 to the 23rd or are my boundaries number starting times 10 to the 23rd Adams. All right, one more substance. This case we're dealing with gold that we need to convert from moles of gold, two grams of gold in the Moler. Massive gold is about 197 grams per mole. Okay, next would be to convert from Graham's tow ounces. The question tells us that are about 31.1 grams per ounce. And so if you worked at this, let's see if everything cancel those atoms bulls, grams and grams, you would be purchasing about 1.0 times 10 to the negative 11 houses and then if we did cost per ounce. So we took our $5 and we divided it by 1.0 times 10 the negative 11 ounces. You would get a cost per ounce of about 4.7 times 10 to the 11th dollars per ounce. You probably right this the other way around. Dollars in front. Of course, this many dollars per ounce 4.7 times 10 to the negative 11th started 10 of the $11 browns and the current costs gold, if you look it up, is about terrorist. This sign. The current cost of gold is about $1500 per ounce. And, of course, that number is much keep. Drawing is thrown away. That number is much less. That number is much less than the cost that you would have been paying. So, of course you should not by one trillion gold atoms for $5

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Paul Flowers, Klaus Theopold, Richard Langley, William R. Robinson

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