DOLLARDE
The DOLLARDE function is used to convert a dollar price value expressed as a fraction into a decimal number in Excel. This function is commonly used in financial modeling and calculations involving monetary values.
Syntax 🔗
=DOLLARDE(FractionalDollar, [Fraction])
FractionalDollar | The dollar price value expressed as a fraction. |
Fraction (Optional) | The denominator of the fraction. Defaults to 32 if omitted. |
About DOLLARDE 🔗
When you're dealing with dollar values represented as fractions and need them in decimal form, DOLLARDE in Excel is your go-to tool. It simplifies the process of converting fractional dollar prices into decimals, streamlining financial calculations and monetary analysis tasks with ease. Consider it your trusty companion for precision in handling financial figures efficiently and accurately.
Examples 🔗
Let's say you have a bond with a price quoted at 99 29/32. You want to convert this fractional dollar price into a decimal value. The DOLLARDE formula would be: =DOLLARDE(99+29/32)
Imagine you have a stock trading at 50 1/8. You wish to convert this dollar price fraction to a decimal. The DOLLARDE formula to use is: =DOLLARDE(50+1/8, 16) to specify a denominator of 16.
Notes 🔗
Ensure that the FractionalDollar argument is provided in the correct format without the dollar sign ($). If the Fraction argument is omitted, it defaults to 32. Make adjustments based on the specific fractional notation or denominator used in the dollar price values you are working with.
Questions 🔗
The DOLLARDE function aids in financial modeling by facilitating the conversion of fractional dollar prices into decimal form, enabling smoother calculations and analysis of monetary values within Excel spreadsheets.
Is the FractionalDollar argument in the DOLLARDE function sensitive to formatting?Yes, the FractionalDollar argument should be in a recognizable format without special characters or currency symbols. Ensure it follows a standard fractional representation (e.g., 99 29/32) for accurate conversion.
Can I customize the fraction denominator in the DOLLARDE function?Yes, you can specify a custom fraction denominator using the optional Fraction argument in the DOLLARDE function. This allows you to adapt the conversion based on the specific fraction format used in the dollar price values.