Using the actual percent composition of a post-1982 penny and the current price of zinc, how...
Using the actual percent composition of a post-1982 penny and the current price of zinc, how much is a penny worth?
actual percent composition = 97.5% of zinc
Current price of zinc = $1.29/lb
Homework Answers
The weight of a 97.5% of zinc containing penny =3.11g(0.109 ounces) (lit)
97.5% of (0.109ounce)=97.5x0.109/100
=0.1063 ounces=0.00664375 lb (1 ounce=0.0625 lb)
worth of a penny =weight x current price
=0.00664375 lbx$1.29/lb
=0.0086$ (100 pennies=1$)
=0.86 cent
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