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Image transcription text13. A bank discount 120 day note wit

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Image transcription text13. A bank discount 120 day note with a face value of P7,000 comes due 5 points on June 1st. The owner of thenote holds it for only 20 days before having it discounted at a bank which discounts at a rate of 11%. Whatamount does the owner get from the bank after 20 days? Your answer 14. On January 10th a bank… Show more… Show more THE TOPIC IS Simple Interest, Bank Discount and Compound InterestBusinessAccountingSTEM 11

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