Help on how to solve for gold

Question

The table shows the average price of gold (in dollars per ounce) for several years.

Year:                               1970            1980           1990             2000              2010

Average Price                  36.02          615.00        383.51          279.11           1224.53

(dollars per ounce)

 

I need help on how to solve for D? 

Question D: The miner sold 0.1 ounce of the gold in 2011 for $186.05. How much should the miner have received for the remaining gold?

 

The answer is $368.38 and it says :Student calculate the price of gold and applies it to the amount of gold left?

 

Answers from previous questions.

A. Find the total weight of the gold = 0.298

B. Find the total value of the gold when it was mined = $10.73

C. About how much more was the gold worth in 2010 than in 1970 = 1188.51

Answer 1

{Student calculate the price of gold]  In 2011, the miner sold 0.1 oz of gold for $186.05.  That means that the Average Price for 1 oz of gold in 2011 was $1860.50.

 

[applies it to the amount of gold left]  From Answer A, the miner had 0.298 oz.  He just sold 0.1 oz, so he has 0.189 oz left.  The average price for that amount is  $1860.50*(0.198) = $368.38