The market convention to use a 360-day year in the financial markets applies in:
A) the United Kingdom.
B) Australia.
C) the United Kingdom and euromarkets.
D) the United States and euromarkets.

Question

Quizplus · Accepted Answer

The 360-day year convention is commonly used in the United States and euromarkets for calculating interest on loans, bonds, and other financial instruments. This simplifies the interest calculation process by standardizing the number of days in a month to 30.

The Market Convention to Use a 360-Day Year in the Financial