A loan is made on January 10 and has a due date of October 18 during a leap year

Question

A loan is made on January 10 and has a due date of October 18 during a leap year. Find the exact time of the loan. EB Click the icon to view the table of the sequential numbers for dates of the year days Data Table Sequential Numbers for Dates of the Year Day of Month Jan. Feb. Mar. Apr. May Junel July Aug Sept Oct. Nov. Dec. 1 32 60 91 121 152 182 213 244 274 305 335 2 33 61 92 122 153 183 214 525 275 306 336 3 34 62 93 123 154 184 215 246 276 307 337 4 35 63 94 124 155 185 216 247 277 308 338 5 3664 95 125 156 186 217 248 278 309 339 6 37 65 96 126 157 187 218 249 279 310 340 7 38 66 97 127 158 188 219 250 280 311 341 8 39 67 98 128 159 189 220 251 281 312 342 9 40 68 99 129 160 190 221 252 282 313 343 10 41 69 10 130 161 191 222 253 283 314 344 11 42 70 101 131 162 192 223 254 284 315 345 12 43 71 102 132 163 193 224 255 285 316 346 1312 MA7102 133 16 104 225 56 84 317 347 6 10 Enter your 12

Explanation / Answer

An interest period for a loan will include both dates. The date loan is given and the end date. Since there is a leap year. In which february will involve 29 days. So total days for loan are

January 22 days, february 29 days, march 31 days, april 30 days, may 31 days, june 30 days, july 31 days, august 31 days, september 30 days, october 18 days. So total number of days are 22+29+31+30+31+30+31+31+30+18= 283 days. So exact time of loan is 283 days.

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