) A loan is dated June 9 and is due November 22. Using exact time, the total num

label Business & Finance
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 A loan is dated June 9 and is due November 22. Using exact time, the total number of days is: 

A) 166 

B) 167 

C) 165 

D) 164

Apr 26th, 2015

A) 166

Unlike time periods including February (which may have an extra day), the year doesn't matter. 

Apr 25th, 2015

2) Salary is most often stated as: 

A) a certain amount of money paid each year 

B) the difference between gross and net earnings 

C) wages 

D) based on an hourly rate of pay

Apr 26th, 2015

A) a certain amount of money paid each year

That's your "gross" amount, before taxes; taxes/deductions would be calculated using B and wages are based on an hourly rate of pay. Salary is not; that is why when you are salaried you do not receive overtime. 

Apr 26th, 2015

7) Find the discount and proceeds on a $66,900.00 face-value note for 100 days if the discount rate is 9.75%. 

A) Discount = $1811.88 Proceeds = $65,088.12 

B) Discount = $0.00 Proceeds = $66,900.00 

C) Discount = $6522.75 Proceeds = $60,377.25 

D) Discount = $1787.05 Proceeds = $65,112.95

Apr 26th, 2015

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