Ask Question
11 October, 09:44

A $120,000, 5%, 200-day note dated June 6 is discounted on October 8. The discount period is how many days?

+5
Answers (1)
  1. 11 October, 10:13
    0
    June: 30-6=24

    July: 31

    August:31

    September:30

    October: 8

    Total=24+31+31+30+8=124 days

    Discount period:

    The period of time between the date a bill of exchange is drawn and the date on which payment is due.

    So discount period = 200-124=76 days
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A $120,000, 5%, 200-day note dated June 6 is discounted on October 8. The discount period is how many days? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers