The price of gold is often reported per ounce. At the end of 2005 , gold was \( \$ 513 \) per ounce. At the end of 2015 , it was \( \$ 1060 \) per ounce. By what percent did the price increase?

To find the percent increase in the price of gold, you can use the formula: \[ \text{Percent Increase} = \left( \frac{\text{New Price} - \text{Old Price}}{\text{Old Price}} \right) \times 100 \] Substituting the values: \[ \text{Percent Increase} = \left( \frac{1060 - 513}{513} \right) \times 100 = \left( \frac{547}{513} \right) \times 100 \approx 106.63\% \] So, the price of gold increased by approximately \( 106.63\% \) from 2005 to 2015.