Find the cost per ounce of a gold alloy made from 10 oz of pure gold that costs $1288 per ounce and 55 oz of an alloy that costs $900 per ounce. (Round your answer to the nearest cent.)

$959.69 per oz

Step-by-step explanation:

A gold alloy is produced from pure gold and alloy.

10 oz of pure gold costs $1,288 per ounce

55 oz of alloy costs $900 per ounce

The first step is to add the cost of both the pure gold and alloy together

= (10 oz × $1288)+(55 oz × $900)

= $12,880+$49,500

= $62,380

Therefore the cost per ounce can be calculated as follows

= $62,380/10 oz + 55 oz

= $62,380/65 oz

= $959.69 per oz.

Hence the cost per ounce of the gold alloy is $959.69 per ounce

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