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Assume Juan bought 40 ounces of gold for $7,800 as protection against rising inflation. He sold half the gold in 1980 at a price of
Assume Juan bought 40 ounces of gold for $7,800 as protection against rising inflation. He sold half the gold in 1980 at a price of $645 an ounce. Juan sold the other half in 1982 when the price was $400 an ounce.
What would Juan's profit have been if he had sold all of his gold in 1980?
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