Assume Juan bought 42 ounces of gold for $7340 as protection against rising inflation. He sold half the gold in 1980 at a price of $470 an ounce. Juan sold the other half in 1982 when the price was $400 an ounce. What would Juan's profit have been if he had sold all of his gold in 1980? Juan's profit S 4,830
Assume Juan bought 42 ounces of gold for $7340 as protection against rising inflation. He sold half the gold in 1980 at a price of $470 an ounce. Juan sold the other half in 1982 when the price was $400 an ounce. What would Juan's profit have been if he had sold all of his gold in 1980? Juan's profit S 4,830
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Assume Juan bought 42 ounces of gold for $7.140 as protection against rising inflation. He sold half the gold in 1980 at a price of $470
an ounce. Juan sold the other half in 1982 when the price was $400 an ounce.
What would Juan's profit have been if he had sold all of his gold in 1980?
Juan's profit
$
4,830
D
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