Prema purchased 33 ounces of gold in 2005 for $392 per ounce in order to try to diversify her investment portfolio. She sold a third of her holdings in gold in 2009 at a price of $944 per ounce. She sold the rest of her gold holdings in 2010 for $1,166 per ounce. What is Prema’s profit in 2009 and 2010?

Prema purchased 33 ounces of gold in 2005 for $392 per ounce in order to try to diversify her investment portfolio. She sold a third of her holdings in gold in 2009 at a price of $944 per ounce. She sold the rest of her gold holdings in 2010 for $1,166 per ounce. What is Prema’s profit in 2009 and 2010?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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