Question: What is the discount interest rate charged on a Php 20,000, 8-month discount note, given the proceeds of Php 19,500? Group of answer choices 3%

What is the discount interest rate charged on a Php 20,000, 8-month discount note, given the proceeds of Php 19,500?

Group of answer choices

3%

3.75%

4.75%

4%

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