Reference no: EM132460614

Question problem 1: You have just won a free trip to the destination of your choice and all airline or other transportation costs are provided (OK, this is just pretend!), but you need to budget for your expenses during the 3 days you will be there, because you want to be able to buy the correct amount of foreign currency.

Question problem 2: Using either the direct method or indirect method, make budget to include your hotel, food, and entertainment costs for the 3 days. Select one of the recommended locations listed below and then, using the appropriate foreign currency conversion rate for the end of month prior to your departure date (today), tell the class the currency exchange method, currency need for your location, quoted price, Internet link to that quote, budget amount in U.S. dollars, and the amount of foreign currency you will need when you arrive.You may choose any of the following locations: Paris, France; London, England; Sydney, Australia; Hong Kong, China; or Agra, India.