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

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

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