The current value of the precious metal is $144/oz
-First, you'd want to determine the original value per ounce since that's what the final unit being asked for is.
- Since the original value of the half ounce piece is given, this first step is fairly simple. You just double ninety.
- We now know that the metal was worth $180/oz when the museum first received it.
- We need to determine the current price of the metal now that is has had a twenty percent loss of value.
- My favorite way to factor in 20% is simply to divide by five since it's a lot more simple than finding the ratio of x$/1%
- $180/5=$36
- Thirty-six dollars is the price drop over the course of the museum possessing the precious metal.
- You now take $180-$36=$144
