Find the discount period.
-Loan made: July 11
Length of loan: 150 days
Date of discount: Sep 10

Question

Quizplus · Accepted Answer

The discount period is the time between the date of discount (September 10) and the maturity date of the loan. First, calculate the maturity date by adding the length of the loan (150 days) to the loan made date (July 11). This gives a maturity date of December 8. Then, calculate the number of days from the date of discount (September 10) to the maturity date (December 8), which is 89 days.

Find the Discount Period