Evaluate your loss using the information given

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Reference no: EM1344070

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: EM1344070

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