Ryan Lock had planned his trip to the Olympic Games in Rio deJaneiro, Brazil, for many months. He had budgeted and saved $16700

16,700 for expenses while in Rio. But he had postponed exchanging the dollars for Braziliancurrency, real(BRL orR$), until the very last minute on August8th, doing it in the airport in the United States at BRL 3.0734 equals 1.00 USD

BRL3.0734=1.00USD. Given the following average monthly exchange rates in2016, when should he have exchanged the dollars for real to maximize his Brazilian spendingmoney?