Change in the euro, How many Euros were they awarded in

Change in the euro

Reference no: EM131007431

Bob and Chris received a grant through their University to travel to Germany to do research. The grant awarded them $2,000 for room and board during their stay. It was paid to them in U.S. dollars On May 31 at which time the Euro was worth $.77980. They spent the money in Germany during July when the Euro was worth $78597.

a. How many Euros were they awarded in May?

b. Did the change in the Euro work to their advantage or disadvantage and how much?

Reference no: EM131007431

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