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Roger's Manufacturing, Inc. has contracted to sell certain goods to a company in Saudi Arabia. The ...

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Roger's Manufacturing, Inc. has contracted to sell certain goods to a company in Saudi Arabia. The ...

Roger's Manufacturing, Inc. has contracted to sell certain goods to a company in Saudi Arabia. The price agreed upon for the goods is 250,000 Saudi Arabian Riyals. On the date the contract was signed, the Foreign Currency in Dollars column in the financial section of the local paper showed that the Saudi Arabian Riyal was valued at .2267. If the value of the Saudi Arabian Riyal fell from .2267 to .2006 on the date of payment, compute how much Roger's Manufacturing, Inc. lost by contracting in Saudi Arabian Riyals instead of U.S. Dollars.

Textbook

Contemporary Business Mathematics for Colleges

Edition: 16^th

Authors: Deitz, Southam

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