1. On March 3, 2006, Treasury bills due in 90 days were quotes at a discount rate of 8 %. If a bill was bought by an investor and held to its maturity, at what rate did the investment yield simple interest?

2. Mr. Abrenica received a note for P150, 000 dated September 12, 2008. The note is due in 9 months at 6 %. If he discounted the note on February 12, 2009 at a bank charging a discount rate of 8%, what will be the proceeds?

3. On December 4, 2009, Mr. Glenmore needs P200, 000 which he plans to repay on March 12, 2010. If he can secure a loan from a bank that charges 9 % interest in advance, how much must he borrow from the bank?

4. Find the amount due at the end of 9 months whose present value is P6, 000 at a) 7 % simple interest; and b) 7 % simple discount.

5. Find the simple interest rate equivalent to the simple discount rate of 9% in accumulating and discounting an amount for 2 years and 3 months.