# Joe Smallwood is planning his trip to Kruger National Park in South Africa and in doing so, is preparing his

## Question:

Joe Smallwood is planning his trip to Kruger National Park in South Africa and in doing so, is preparing his holiday budget. The cost of the tour will be €595 and includes transport to and from hotels, hotels (an all-inclusive package), a guide, and game drives. International airfares are excluded, so a return ticket will cost Joe €850. He plans to take €400 for incidental expenses, as well as spending money of €1,500. The local currency is the rand (R), and the exchange rate is R14.89/€ (or €0.0672/R).
a. What will this trip cost in euros?
b. Joe decided to exchange the amounts for incidental expenses and spending money from euros to rand. What is the amount in rand that he will need? Ignore exchange charges.

## This problem has been solved!

Related Book For

## Principles Of Managerial Finance

ISBN: 9781292018201

14th Global Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

Question Details
Chapter # 19- International Managerial Finance
Section: Problems
Problem: 3
View Solution