4. 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?

5. 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?