<!DOCTYPE html>
<html>
	<head>
		<title>YEARFRAC Function</title>
		<meta charset="utf-8" />
		<meta name="description" content="" />
		<link type="text/css" rel="stylesheet" href="../editor.css" />
        <script type="text/javascript" src="../callback.js"></script>
        <script type="text/javascript" src="../search/js/page-search.js"></script>
	</head>
	<body>
		<div class="mainpart">
            <div class="search-field">
                <input id="search" class="searchBar" placeholder="Search" type="text" onkeypress="doSearch(event)">
            </div>
			<h1>YEARFRAC Function</h1>
			<p>The <b>YEARFRAC</b> function is one of the date and time functions. It is used to return the fraction of a year represented by the number of whole days from start-date to end-date calculated on the specified basis.</p>
			<p>The <b>YEARFRAC</b> function syntax is:</p> 
			<p style="text-indent: 150px;"><b><em>YEARFRAC(start-date, end-date [,basis])</em></b></p> 
			<p><em>where</em></p> 
			<p style="text-indent: 50px;"><b><em>start-date</em></b> is a number representing the first date of the period, entered using the <a href="Date.htm" onclick="onhyperlinkclick(this)">Date</a> function or other date and time function.</p>
			<p style="text-indent: 50px;"><b><em>end-date</em></b> is a number representing the last date of the period, entered using the <a href="Date.htm" onclick="onhyperlinkclick(this)">Date</a> function or other date and time function.</p>
			<p style="text-indent: 50px;"><b><em>basis</em></b> is the day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It can be one of the following:</p>
			<table style="width: 40%">
				<tr>
					<td><b>Numeric value</b></td>
					<td><b>Count basis</b></td>
				</tr>
				<tr>
					<td>0</td>
					<td>US (NASD) 30/360</td>
				</tr>
				<tr>
					<td>1</td>
					<td>Actual/actual</td>
				</tr>
				<tr>
					<td>2</td>
					<td>Actual/360</td>
				</tr>
				<tr>
					<td>3</td>
					<td>Actual/365</td>
				</tr>
				<tr>
					<td>4</td>
					<td>European 30/360</td>
				</tr>
			</table>
			<p class="note"><b>Note</b>: if the <b><em>start-date</em></b>, <b><em>end-date</em></b> or <b><em>basis</em></b> is a decimal value, the function will ignore the numbers to the right of the decimal point.
			</p>
			<p>To apply the <b>YEARFRAC</b> function,</p>
			<ol>
			<li>select the cell where you wish to display the result,</li>
			<li>click the <b>Insert function</b> <img alt="Insert function icon" src="../images/insertfunction.png" /> icon situated at the top toolbar,
				<br />or right-click within a selected cell and select the <b>Insert Function</b> option from the menu,
				<br />or click the <img alt="Function icon" src="../images/function.png" /> icon situated at the formula bar,
			</li>
			<li>select the <b>Date and time</b> function group from the list,</li>
			<li>click the <b>YEARFRAC</b> function,</li>
			<li>enter the required arguments separating them by commas,</li>
			<li>press the <b>Enter</b> button.</li>
			</ol>
			<p>The result will be displayed in the selected cell.</p>
			<p style="text-indent: 150px;"><img alt="YEARFRAC Function" src="../images/yearfrac.png" /></p>
		</div>
	</body>
</html>