Function: YearFrac
Description
Calculates the fraction of the year represented by the number of whole days between two dates. For instance, you can use YearFrac to identify the proportion of a whole year's benefits, or obligations to assign to a specific term.
Syntax
YearFrac([start_date],[end_date],[basis]).
Arguments
start_date and end_date can be a constant, a date field, an expression that results in a date or a function that returns a date.
basis is optional and can have one of the following values:
|
Basis |
Meaning |
|
0 or blank |
US (NASD) 30/360 |
|
1 |
actual/actual |
|
2 |
actual/360 |
|
3 |
actual/365 |
|
4 |
European 30/360 |
Return value
This function returns a number.
Calculated field example
For the following dates:
|
Argument |
Sample Value |
|
Start_Date |
1/1/2012 |
|
End_Date |
7/30/2012 |
YearFrac([start_date],[end_date]) = 0.58055556
For the following dates:
|
Argument |
Sample Value |
|
Start_Date |
1/1/2020 |
|
End_Date |
7/1/2020 |
YearFrac([start_date],[end_date]) = 0.5000
(This indicates that 7/1/2020 is the midpoint, or 1/2,of the year 2020)
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