Use a day counting table to determine the due date of the loan if the loan is made on the given date for the given number of days.
-December 8 for 240 days (the due date is not in a leap year)
A) July 17
B) August 5
C)July 18
D) September 2

Question

Quizplus · Accepted Answer

To determine the due date of a loan made on December 8 for 240 days, we count the days forward from December 8. December has 23 days remaining after the 8th (31-8), leaving 217 days to count into the next year. January through July adds up to 212 days (31+28+31+30+31+30+31). This leaves 5 days into August, making the due date August 5.

Use a Day Counting Table to Determine the Due Date