The calculation is as follows: Monthly Interest Rate = Periodic Interest Rate x Number of Days in a Period (valuepenguin.com)
It is calculated by dividing the average balance of account receivable by total net credit sales and multiplying the quotient by the total number of days in the period. (tradebrains.in)
The calculation is as follows: Monthly Interest Rate = Periodic Interest Rate x Number of Days in a Period (valuepenguin.com)