How To Use Yearfrac Excel

When using the us nasd 30 360 basis and the start date is the last day in february the yearfrac function may return an incorrect result.

How to use yearfrac excel. Yearfrac 1 jan 2018 1 jan 2019 returns 1 yearfrac 1 jan 2018 1 jul 2019 returns 1 5. Now copy the formula to other cells using the ctrl d shortcut key. For instance you can use yearfrac to identify the proportion of a whole year s benefits or obligations to assign to a specific term. A date that represents the start date. A date that represents the end date.

Basis optional the type of day count basis to use see image below. Yearfrac start date end date basis. It s the basis with which you must be careful when using the yearfrac function. Use the cell reference or date function in excel while taking date as input to the function now press enter to get the yearfrac value the result specifies the year gap between the two dates. Yearfrac 01 jan 19 15 sep 19 returns 0 71.

Start date is the first argument so select date 1 as the cell reference i e a2 cell. The yearfrac function however requires a bit more knowledge than most other functions. End date the end date. The yearfrac function in excel returns a decimal value that represents fractional years between two specified dates. Yearfrac calculates a decimal number representing the fraction of a year between two dates.

Yearfrac start date end date basis arguments. Yearfrac start date end date basis start date is the first variable date end date is the second variable date and basis is the assumption under which excel should return the result of the calculation. All arguments will be truncated to integer. Excel uses whole days between two dates to work out the fraction of a year as a decimal value. The excel yearfrac function returns a decimal number representing the fractional years between two given dates.

Basic syntax of yearfrac function. For example given the 01 jan 19 as the start date and the 15 sep 19 as the end date you can calculate the fractional years between these dates using the following formula. Start date the start date. The second argument is end date so select the b2 cell as the reference.