TeachMeFinance.com - explain Month
Month -- In business a month is usually considered as consisting
of 30 days.
In time loans (loans running for a specified time) 30 days
are counted as a month. In call loans, however, interest is
calculated for the number of days they actually run.
In dealing in futures (contracts maturing in the future) in grain, cotton, coffee, etc., it is the practise to designate
the contracts by the names of the months in which they
mature. Thus, wheat sold for delivery in January is called
January wheat; cotton sold for delivery in July is called July
cotton, and so on.
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