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You have today (11/02/2019) an IOU for $100,000 (someone owes you money). The issue date was 10/10/2019 and the IOU's duration was set to 120

You have today (11/02/2019) an IOU for $100,000 (someone owes you money). The issue date was 10/10/2019 and the IOU's duration was set to 120 days.

You need cash now and a bank offers you a discount rate of 5% annual (compounded). How much money should you receive?

What is the discount?

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