A $2,800, 10% note dated March 12 for 80 days was discounted on May 2 at 12%. The number of days in the discount period (using a 365-day year) is:
A) 51 days.
B) 80 days.
C) 29 days.
D) some other number.

Question

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The Answer of A $2,800, 10% note dated March 12 for 80 days was discounted on May 2 at 12%. The number of days in the discount period (using a 365-day year) is:
A) 51 days.
B) 80 days.
C) 29 days.
D) some other number.

A $2,800, 10% Note Dated March 12 for 80 Days