On August 14, Second Street Bank lent $260,000 to City Restaurant on a 75 day, 4% note. What is the maturity date of the note?
A) Oct. 27
B) Oct. 28
C) Oct. 29
D) Oct. 30
B) Oct. 28
Explanation: There are 17 days in August (31 - 14); 30 days in September; and 28 days in October (17 + 30 + 28 = 75 days).
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