Question for penalties for late assignments
I had an assignment due on Wednesday at 1:30 pm. Unfortunately, I didn't pay close attention to the submission time and had assumed it was the standard 11:59 pm deadline.
I understand that the late submission penalty is a 5% or 10% deduction from the total mark for each business day the assignment is late. For future reference, I was wondering how a “business day” is calculated in this situation. Does the first business day end at midnight on the day the assignment was due, or would it be calculated from the original deadline of 1:30 pm to 1:30 pm the following business day?
Also, for a business student, is the penalty 5% or 10%?
Thanks for the help!