if a loan began on August 15 and is due on October 15, what is the ordinary time for this period?

calculating ordinary time for loan period
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1 Answer

Ordinary time is based on 360 days in a year, and each month has 30 days.

Based on this, there are 15 days left in August before the end of the month. Then come 30 days for September, followed by 15 in October: 15+30+15=60 days.

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