Examples of DayCount

Examples of DayCount and Periods in Cash and Accruals Mode
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See also: Using Daycount, Calculating Interest

Accruals Mode

Here are some examples for functions in accruals mode (ProjMode=0)::

Loan Interest

  • Quarterly, ACT/365. DayCount: 3 Periods: 4
  • Quarterly, ACT/365, UK National Business Days. DayCount:3 Periods:{4,100}
  • Bespoke Periods, ACT/365, English Business Days . DayCount: 6.03 Periods: {2.22,5.22,8.22,11.22,100}

Bond Interest
  • Quarterly,30/360 US. DayCount: 1 Periods: -4
  • Quarterly, 30/360 European DayCount:4 Periods:4
  • Bespoke Periods, 30/360 US DayCount: 6.01 Periods: {2.22,5.22,8.22,11.22,200}

Real Estate

  • Quarterly (US quarter days), ACT/365 for stub periods. DayCount: 63 Periods: omitted or 4
  • Quarterly (US quarter days), ACT/ACT in period for stub periods. DayCount: 6 or 66 Periods: omitted or 4
  • English Quarter Days, ACT/365 for stub periods. DayCount: 6.03 Periods: 13
  • English Quarter Days, ACT/365 for stub periods. DayCount: 6 or 6.06 Periods: 13

Cash Mode

Here are some examples for functions in cash mode (ProjMode=1)::

Loan Interest

  • Quarterly in arrear, ACT/365. DayCount: 3 Periods: -4
  • Quarterly in arrear, ACT/365, UK National Business Days. DayCount:6.03 Periods: {-4,100}
  • Bespoke in arrear, ACT/365, UK National Business Days . DayCount: 6.03 Periods: {-2.22,-5.22,-8.22,-11.22,100}

Real Estate

  • Quarterly in advance (US quarter days), ACT/365 for stub periods. DayCount: 6.03 Periods: omitted or 4
  • Quarterly in advance (US quarter days), ACT/ACT in period for stub periods. DayCount: 66 Periods: omitted or 4
  • English Quarter Days, ACT/365 for stub periods. DayCount: 6.03 Periods: 13
  • English Quarter Days, ACT/365 for stub periods. DayCount: 6 or 6.06 Periods: 13

Tip: In your spreadsheets, make use of the DescribeDayCount and DescribePeriods functions to make it obvious even on your printouts what daycount method you are using.