30/360 Interest Caluculation

  • Thread starter Thread starter Diane
  • Start date Start date
D

Diane

Hi,

Anyone know how to convert a daily number to a 30/360
basis. It's gets difficult when there are 31 days in a
month or 28 days. It's increasing more difficuly when
the calculation needs to start mid month (ie, start on
3/14/03 and days in month = 31)

Any help would be greatly appreciated!

Thanks
Diane
 
Hi,



Datepart("y", theDateHere) would return the number of the day in the year
(1-366) and using DateAdd("m", 1, someDateHere) would add one month.

? DatePart("y", Now) ' Now( ) = September 15, 2003
258

? DateAdd("m", 1, #01-31-2000#) '1 month after 31st of January 2000
2000-02-29 ' is not the 31 of February



Hoping it may help,
Vanderghast, Access MVP
 
In fincancial calculations, it is sometimes important to calculate all
12 months with equal weight. The same amount of interest is
calculated for February as for March. However, it is also necessary
to have a days-between-dates that ignores the 31st of every month
(that has a 31st) and counts three days between February 28th and
March 1.

To do this, count 30 days for every whole month. Then count the
differences between the day of the month values, except using 30
whenever the value is 31. Add the two together and you have the
correct answer.

Is this about what you're looking for. I used to do this in my
computer programming, but that was 25-30 years ago. Before giving you
anything very specific, I want to be sure my information is not too
out of date.

How many days between the following:

Jan 31, 2000 to Feb 28, 2000? 28?
Jan 30, 2000 to Feb 28, 2000? 28 again?

Hi,

Anyone know how to convert a daily number to a 30/360
basis. It's gets difficult when there are 31 days in a
month or 28 days. It's increasing more difficuly when
the calculation needs to start mid month (ie, start on
3/14/03 and days in month = 31)

Any help would be greatly appreciated!

Thanks
Diane
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Tom Ellison
Microsoft Access MVP
Ellison Enterprises - Your One Stop IT Experts
 
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