Business, 30.05.2020 03:02 heyhowdy

Ryan Lock had planned his trip to the Olympic Games in Rio de Janeiro, Brazil, for many months. He had budgeted-saved-$13,000 for expenses while in Rio. But he had postponed exchanging the dollars for Brazilian currency-real (BRL or R$)-until the very last minute on August 8th, doing it in the airport in the United States at BRL 2.8350 = 1.00 USD.
Given the following average monthly exchange rates in 2016, when should he have exchanged the dollars for real to maximize his Brazilian spending money?

Assumptions Value
US dollar funds for expenses in Rio de Janeiro $15,000.00
Average exchange rate for the month (BRL = 1.00 USD):
January BRL 4.0553
February BRL 3.9651
March BRL 3.6984
April BRL 3.5639
May BRL 3.5416
June BRL 3.4236
July BRL 3.2785
August 8 in Airport BRL 3.1805

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 13:30, Mariaisagon9050

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

Answers: 1

continue

Business, 22.06.2019 15:20, alex12everett

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Answers: 1

continue

Business, 22.06.2019 20:20, cjp271

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

Answers: 1

continue

Business, 22.06.2019 22:10, ggg509

Which of the following tends to result in a decrease in the selling price of houses in an area? a. an increase in the population of the city or town. b. an increase in the labor costs of construction. c. an increase in the income of new residents in the city or town. d. an increase in mortgage interest rates.

Answers: 1

continue

You know the right answer?

Ryan Lock had planned his trip to the Olympic Games in Rio de Janeiro, Brazil, for many months. He h...