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Answer :
Final answer:
The cost of 1 gram of gold is found by converting a Troy ounce to grams and dividing the cost of a Troy ounce by the number of grams. The result is approximately $18 per gram.
Explanation:
To find the cost of 1g of gold, we first need to convert a Troy ounce to grams. Since a Troy ounce is equivalent to 480 grains and 1 grain is 64.8 milligrams, we know that one Troy ounce is 480 grains * 64.8 milligrams/grain, which equals 31,104 milligrams or 31.104 grams.
Next, if the price of gold is $560 per Troy ounce, we divide this by the number of grams in a Troy ounce to get the price per gram: $560 / 31.104 grams = $18 per gram. So, the cost of 1 gram of gold is approximately $18.
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