Rio Games and the Brazilian Real. Ryan Lock had planned his trip to the Olympic Games in Rio de Janeiro, Brazil, for many months. He had budgeted and saved $17,000for expenses while in Rio. But he had postponed exchanging the dollars for Brazilian currency, real (BRL or R$), until the very last minute on August 8th, doing it in the airport in the United States at BRL 3.0984=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? (Click on the icon to import the table into a spreadsheet.)MonthBRL=1.00 USDMonthBRL=1.00 USD January4.0108May3.4845February3.9103June3.3956March3.6911July3.2304April3.5667The Brazilian real proceeds from exchange in January is BRL nothing. (Round to two decimal places.)
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