What is the maturity date of a loan taken out on June 6, for 73 days?
A) August 18
B) July 17
C) August 15
D) June 30

Question

Quizplus · Accepted Answer

The maturity date is calculated by adding the loan period to the start date. Starting from June 6 and adding 73 days lands on August 18, considering both June and July have a combination of 61 days (30 days in June and 31 days in July), leaving 12 days to be added to August, reaching August 18.

What Is the Maturity Date of a Loan Taken Out