Fast Manufacturing, Inc. has contracted to sell certain goods to a company in Finland. The price agreed upon for the goods is 500,000 euro. On the date the contract was signed, the euro was valued at $1.30. If the value of the euro fell from $1.30 to $1.25 on the date of payment, compute how much Fast Manufacturing, Inc. lost by contracting in euro instead of U.S. dollars.

Question

Fast Manufacturing, Inc. has contracted to sell certain goods to a company in Finland. The price agreed upon for the goods is 500,000 euro. On the date the contract was signed, the euro was valued at $1.30. If the value of the euro fell from $1.30 to $1.25 on the date of payment, compute how much Fast Manufacturing, Inc. lost by contracting in euro instead of U.S. dollars.​

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The Answer of Fast Manufacturing, Inc. has contracted to sell certain goods to a company in Finland. The price agreed upon for the goods is 500,000 euro. On the date the contract was signed, the euro was valued at $1.30. If the value of the euro fell from $1.30 to $1.25 on the date of payment, compute how much Fast Manufacturing, Inc. lost by contracting in euro instead of U.S. dollars.​