DAYS360
The DAYS360 function calculates the number of days between two dates based on a 360-day year with twelve 30-day months. It is commonly used in financial calculations where a simplified day count convention is needed.
Example explanation
Cells [C2:C5] use the DAYS360 function to calculate the number of days between the start and end dates based on a 360-day year.
Syntax 🔗
=DAYS360(Start_date, End_date, [Method])
Start_date | The start date for calculating the number of days. |
End_date | The end date for calculating the number of days. |
Method (Optional) | An optional argument to specify the day counting method. Defaults to FALSE if omitted. |
About DAYS360 🔗
Use the DAYS360 function in Excel for calculating the number of days between two dates based on a 360-day year, which assumes each month has 30 days. This approach is useful for financial calculations that prefer simplicity over exact calendar day counts. It supports financial conventions that require standardized methods for determining interest accrual or payment periods. The function is helpful in calculating durations for financial agreements or investment periods, particularly when the 30/360 day count methodology is standard. You can use the optional [Method] parameter to adjust the calculation to fit different day counting conventions if needed, providing flexibility while maintaining straightforward date difference calculations.
Examples 🔗
To calculate the number of days between January 1, 2022, and March 15, 2022, using the default 30/360 day count convention, use the following formula: =DAYS360("01/01/2022", "03/15/2022") This will return the simplified count of days between the two dates.
If you need to determine the duration between February 15, 2022, and June 30, 2022, using the actual/actual day-count basis, use this formula: =DAYS360("02/15/2022", "06/30/2022", TRUE) This will calculate the day count considering the actual number of days between the dates.
Notes 🔗
Use the DAYS360 function for financial calculations that follow the 30/360 day count convention, assuming a 360-day year with twelve 30-day months. Adjust the [Method] argument to match the specific day-count method needed for precise calculations in financial contexts.
Questions 🔗
The DAYS360 function calculates the day count based on the following formula: Days = (360 * (End_year - Start_year)) + (30 * (End_month - Start_month)) + (End_day - Start_day)
Is the DAYS360 function suitable for calculating exact calendar days between dates?No, the DAYS360 function is designed for simplified financial calculations based on a 360-day year with twelve 30-day months. It may not provide the precise count of calendar days between two dates due to its standardized day count methodology.
Can I customize the day-count method used by the DAYS360 function?Yes, you can customize the day-count method by providing an alternate day counting convention through the optional Method argument. This allows adjusting the calculation to cater to specific financial requirements or different day-counting standards.