A bank discount 120 day note with a face value of P7,000 comes due on June 1st. The owner of the note holds it for only 20 days before having it discounted at a bank which discounts at a rate of 11 %. What amount does the owner get from the bank after 20 days? 14. On January 10th a bank sold a P100,000 certificate of deposit to mature on March 10th and bear interest at 5%. If the buyer holds this certificate of deposit until its maturity date - how much do they receive on March 10th? 15. Jose agrees to pay P2,000 in one year at an interest rate of 12%. The bank subtracts the discount of 12% of P2,000, and gives the rest to Jose. Find the amount of the discount and the proceeds to Jose.