Gore 30 ex My Mothla 50 Seved Help Save Prema purchased 33 ounces of gold in 2005 for $392 per ounce in order to try to diversity her investment portfolio She sold a third of her holdings in gold in 2009 at a price $944 per cunce

Finance Dec 01, 2020

Gore 30 ex My Mothla 50 Seved Help Save Prema purchased 33 ounces of gold in 2005 for $392 per ounce in order to try to diversity her investment portfolio She sold a third of her holdings in gold in 2009 at a price $944 per cunce. She sold the rest of her gold holdings in 2010 for 51166 per ounce What is Prema's profit in 2009 and 2010? 2010 Prema's profil 2000

Expert Solution

ANSWER

QUANTITY = 33 OUNCES

PURCHASE PRICE= 392

2009

2009 GOLD PRICE PER OUNCE = 944

2009 PREMA'S PROFIT = 33/3 x (944 -392)

= 6,072

2010

2010 GOLD PRICE PER OUNCE = 1166

2010 PREMA'S PROFIT = 22 x (1166 - 392)

=17,028

PLEASE APPRECIATE THE WORK

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