A $25,000, 15%, 80-day note dated November 5, is discounted at National Bank on January 5. The discount period is:
A)80 days
B)19 days
C)61 days
D)91 days
E)None of these

Name: A $25,000, 15%, 80-day note dated November 5, is discounted at National Bank on January 5. The discount period is: A)80 days B)19 days C)61 days D)91 days E)None of these
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Question

Quizplus · Accepted Answer

January 5 is 61 days after November 5. Since the note is an 80-day note, the discount period is the remaining 19 days.

A $25,000, 15%, 80-Day Note Dated November 5, Is Discounted