Gordon borrows $17,500.00 for 120 days on March 17. The day the loan is due to be paid, using exact time, is:
A) July 15
B) July 4
C) July 16
D) July 13

Question

Quizplus · Accepted Answer

March 17 + 120 days = July 15. March has 31 days, so 31 - 17 = 14 days in March. April has 30 days, May has 31 days, June has 30 days, and July has 31 days. Adding these: 14 (March) + 30 (April) + 31 (May) + 30 (June) = 105 days. 120 - 105 = 15 days into July, so the due date is July 15.

Gordon Borrows $17,500