Trying to create a formula to calculate a discounted percentage, I need Help!?!?

I am learning as I go.  I have a form I am working on and I need to calculate a discount.  So I created a combo box that I want to add 5 and 10% into.  I want my salesman to choose one of those percentages and have it calculate the 5% or 10% discount off the subtotal and give me a dollar amount in the discount field.
5% x $100.00(subtotal) =  discount amount $5.00
I am really not sure where to start with this.  Hoping for some pros out there to give me the dummies version of how to.

As the export value for each of these options enter 0.05 and 0.1, resp.,
and then you'll be able to just use the drop-down field directly in a
Product calculation, together with the subtotal field, to calculate the
value of the discount.

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