YEARFRAC

Calculates the fraction of the year represented by the number of whole days between two dates (the start_date and the end_date). Use the YEARFRAC worksheet function to identify the proportion of a whole year's benefits or obligations to assign to a specific term.

If this function is not available, run the Setup program to install the Analysis ToolPak. After you install the Analysis ToolPak, you must enable it by using the Add-Ins command on the Tools menu.

Syntax

YEARFRAC(start_date,end_date,basis)

Start_date is a date that represents the start date.

End_date is a date that represents the end date.

Basis is the type of day count basis to use.

Basis	Day count basis

0 or omitted	US (NASD) 30/360
1	Actual/actual
2	Actual/360
3	Actual/365
4	European 30/360

Remarks

All arguments are truncated to integers.
If any argument is nonnumeric, YEARFRAC returns the #VALUE! error value.
If start_date or end_date are not valid dates, YEARFRAC returns the #NUM! error value.
If basis < 0 or if basis > 4, YEARFRAC returns the #NUM! error value.

Examples

YEARFRAC("01/01/93", "06/30/93",0) equals 0.5

YEARFRAC("01/01/93", "07/01/93",3) equals 0.49863