Exercise Solution 8.5

We don’t need to consult a calendar for this exercise. There are 28 actual days in February, so there are 3 actual days between February 25 and the end of the month. There are an additional 5 days between the end of February and March 5. Accordingly, there are 8 actual days between February 25 and March 5, 2003.

The 30-day basis calculations are similar, only now there are 30 calendar days in February instead of 28. This gives us an extra 2 days between February 25 and the end of the month. Accordingly, there are 10 calendar days between February 25 and March 5, 2003.

 

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