Ramon has a check work P90,000.00  which is dated  4 months  from today. He really needed the money today. So he went to Juancho, who offered to give the  former P89,000.00 for the indorsement of the check to Juancho. How much is the Discount rate?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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  1. Ramon has a check work P90,000.00  which is dated  4 months  from today. He really needed the money today. So he went to Juancho, who offered to give the  former P89,000.00 for the indorsement of the check to Juancho. How much is the Discount rate?
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