Great Manufacturing, Inc. has contracted to sell certain goods to a company in Austria. The price agreed upon for the goods is 900,000 euro. On the date the contract was signed, the euro was valued at $1.29. If the value of the euro rose from $1.29 to $1.30 on the date of payment, compute how much Great Manufacturing, Inc. gained by contracting in euros instead of U.S. dollars.

Question

​Great Manufacturing, Inc. has contracted to sell certain goods to a company in Austria. The price agreed upon for the goods is 900,000 euro. On the date the contract was signed, the euro was valued at $1.29. If the value of the euro rose from $1.29 to $1.30 on the date of payment, compute how much Great Manufacturing, Inc. gained by contracting in euros instead of U.S. dollars.

Quizplus · Accepted Answer

The Answer of ​Great Manufacturing, Inc. has contracted to sell certain goods to a company in Austria. The price agreed upon for the goods is 900,000 euro. On the date the contract was signed, the euro was valued at $1.29. If the value of the euro rose from $1.29 to $1.30 on the date of payment, compute how much Great Manufacturing, Inc. gained by contracting in euros instead of U.S. dollars.

​Great Manufacturing, Inc

Great Manufacturing, Inc