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Day count fraction: Difference between revisions
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*[[actual/actual]]: the actual number of days in the period divided by the actual number of days in the year (which will usually be 365, but may not be in a leap year) | *[[actual/actual]]: the actual number of days in the period divided by the actual number of days in the year (which will usually be 365, but may not be in a leap year) | ||
*[[actual/365]]: the actual number of days in the period divided by the 365 (ie taking no account of leap years and other ad hoc modifications to the duration of a given year) | *[[actual/365]]: the actual number of days in the period divided by the 365 (ie taking no account of leap years and other ad hoc modifications to the duration of a given year) | ||
*[[30/360]]: Keen observers will note this fraction simplifies down to 1/12 - that is, a round month's worth of interest. Used mainly for fixed rates, where it | *[[30/360]]: Keen observers will note this fraction simplifies down to 1/12 - that is, a round month's worth of interest. Used mainly for fixed rates, where it doesn’t really matter in which period a given day's worth of interest is paid, since it will be calculated exactly the same way anyway. | ||
{{daycountfractions}} | {{daycountfractions}} | ||