Consider you exchanged 5000 into japanese yen this morning

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Reference no: EM13363736

Consider you exchanged $5,000 into Japanese Yen this morning for a trip, but exchanged back into $ later in the afternoon since your trip is cancelled. Assume the rate quotes didn't change during the day and calculate your loss, using the information from the following quotes from an area bank:

Bid rate Mid rate Ask rate

83.5 Yen/$ 81.5 Yen/$ 79.5 Yen/$

Loss from round-trip exchanges: $_____ . (Round up your answer to a nearest dollar)

Reference no: EM13363736

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