discount interest = maturity value of bills × discount interest rate× discount period

where:

① maturity value of bills without interest = face value of bills receivable

② maturity value of bills with interest = face value of bills receivable ×(1+ annual interest rate of bills × maturity days of bills /36)

③ The interest rate used for discount is called discount interest rate, which

Discounted interest rate: floating on the basis of the current rediscount interest rate of the People's Bank of China. The discounted interest rate is the market price, which is determined by both parties through consultation, but the maximum discount rate cannot exceed the current loan interest rate.

the discount rate is subject to the regulations of the people's bank of China. According to the commercial bank liquidity loan interest rate of the same grade down by 3 percentage points.

the discount rate directly affects the amount of money that the bill holder finally gets, so the holder should try to find a bank or discount company with high reputation, low discount rate and fast discount time to discount.