What is the maturity date of a loan taken out on August 9, for 101 days?
A) October 31
B) November 17
C) November 18
D) November 19

Question

Quizplus · Accepted Answer

To find the maturity date of a loan taken out on August 9 for 101 days, count the days starting from August 9. August has 22 days remaining (31-9), September has 30 days, October has 31 days, which totals 83 days. Subtracting 83 from 101 leaves 18 days in November, making the maturity date November 18.

What Is the Maturity Date of a Loan Taken Out