It is well known that airport kiosks are much more expensive for currency exchange than visiting a bank. The current mid-rate is $2.4226 Brazilian reals (BRL) per euro. The Banco do Brasil has a sell rate of BRL$2.4710 per euro, while a kiosk at Salvador airport has a sell rate of BRL$2.5473 per euro plus a flat service charge of BRL$3.00. A traveller through the airport wants to convert BRL$2,000 to euros. Assuming the traveller has the time, would it be worth the BRL$15.00 return taxi ride to the nearest bank to convert the currency? How many euros more would the best option present?

An invoice for $147,477.77 dated July 26 with terms of 5/15, 3/25, 2/40, EOM was partially paid with two equal payments on August 10 and September 4, reducing the balance owing to $76,579.81. What amount was paid on each of the two dates? Assume the payment was received on the date indicated.

Answer rating: 100% (QA)

To determine if its worth taking a taxi to the bank lets ... View the full answer