Answer:
$403.05
Step-by-step explanation:
You want the value of the gold in a 0.54 ounce gold chain that is 58.33% gold, when the price of gold is $1279.60 per ounce.
Ounces
The number of ounces of gold in the chain is ...
58.33% × 0.54 ounces = 0.314982 ounces
Value
The value of that weight of gold is ...
($1279.60/ounce) × (0.314982 ounces) ≈ $403.05
The value of the chain's gold content is $403.05.
