Rio Games and the Brazilian Real.  Ryan Lock had planned his trip to the Olympic Games in Rio de Janeiro, Brazil, for many months. He had budgeted and saved

$16,600 for expenses while in Rio. But he had postponed exchanging the dollars for Brazilian currency, real (BRL or R$), until the very last minute on August 8th, doing it in the airport in the United States at

BRL 3.1185=1.00 USD.

Given the following average monthly exchange rates in 2016, when should he have exchanged the dollars for real to maximize his Brazilian spending money?  (Click on the

icon to import the table into a spreadsheet.)

Month	BRL=1.00 USD	Month	BRL=1.00 USD
January	4.0563	May	3.5652
February	3.9319	June	3.5038
March	3.7143	July	3.3309
April	3.5594

Question content area bottom

Part 1

The Brazilian real proceeds from exchange in January is BRL enter your response here. (Round to two decimal places.)