A $2,800, 10% Note Dated March 12 for 80 Days

question 54

Multiple Choice

A $2,800, 10% note dated March 12 for 80 days was discounted on May 2 at 12%. The number of days in the discount period (using a 365-day year) is:

• A) 51 days.
• B) 80 days.
• C) 29 days.
• D) some other number.

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Definitions:

Cerebral Trauma

Injury to the brain caused by an external force, potentially leading to temporary or permanent cognitive, physical, and psychosocial impairments.

Anterograde Amnesia

The inability to form new memories after the onset of amnesia, while memories from before the onset may remain intact.

Memory Span

the amount of information or number of items that a person can hold in short-term memory in one attempt, often measured by recollection tasks.

Anterograde Amnesiacs

Individuals unable to form new memories following the onset of amnesia, though memories from before the amnesia often remain intact.