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Author Question: What is the number of days in a loan that extends from January 21 to June 20? Assume a nonleap ... (Read 36 times)

shenderson6

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on: Jun 24, 2018
What is the number of days in a loan that extends from January 21 to June 20? Assume a nonleap year.

Question 2

What is the maturity due date on a 100-day loan that begins April 15?


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leahchrapun

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Reply #1 on: Jun 24, 2018
Answer to Question 1

150 days;
10 more days in January plus 28 in February, 31 in March, 30 in April, 31 in May, and 20 in June
10 + 28 + 31 + 30 + 31+ 20 = 150 days

Answer to Question 2

July 24;
15 more days in April; 31 in May; 30 days in June;
15 + 31 + 30 = 76; 100 - 76 = 24, therefore July 24


shenderson6

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Reply #2 on: Jun 24, 2018
Thank you :)


leahchrapun

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Reply #3 on: Jun 24, 2018
Happy to help you


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