In 2009, one of the u. s. government's bailout packages was $700 billion when gold was worth $800 per ounce ($28.20 per gram).

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Business

Ronin Ochoa

12 March, 13:08

In 2009, one of the u. s. government's bailout packages was $700 billion when gold was worth $800 per ounce ($28.20 per gram).

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Jace Combs · Answer 1

Let us convert the total bailout package in scientific notation. We know that a billion is equivalent to 10^9. Therefore:

total bailout = 700 x 10^9

So the mass is:

mass (ounce) = 700 x 10^9 / 800 = 875,000,000 ounce = 875 x 10^6 ounce

mass (grams) = 700 x 10^9 / 28.20 = 2.48 x 10^10 grams