Cost of Discount Monthly

Miss Dazy
Miss Dazy Registered Posts: 34 Regular contributor ⭐
Once you work out the annual percentage cost of the discount, how do you work out the monthly cost of the discount?

Or is this a separate formulae if so could somone put it up, thanks


  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
    Find the amount of money that is due (before discount) and multiply that amount by the % discount on offer for early settlement

    Eg you owe me £5,000, the discount I'm offering is 1% for payment one month quicker than normal, so the cost is 1% of £5,000 = £50
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