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*Subject*: **Re: [office-formula] Reformulation of Day Count Bases**

*From*:**robert_weir@us.ibm.com***To*: "Andreas J. Guelzow" <andreas.guelzow@concordia.ab.ca>*Date*: Mon, 27 Sep 2010 16:33:22 -0400

"Andreas J. Guelzow" <andreas.guelzow@concordia.ab.ca> wrote on 09/24/2010 02:30:12 PM: > Re: [office-formula] Reformulation of Day Count Bases > > On Wed, 2010-09-22 at 16:30 -0600, robert_weir@us.ibm.com wrote: > > http://www.oasis-open.org/committees/download.php/39507/YEARFRAC.odt > > > > Just some observations: > > In Procedure A: > - steps 2 and 3 should probably be switched OK > - step 4 is not needed since steps 5 and 6 will do that > Agreed. > In Procedure C: > - steps 2 and 3 should probably be switched > OK > In Procedure E: > - in step 6, "average number of days of the years between date1 and > date2" sounds complicated since there are only 2 years involved. Do you > mean "the average number of days in years year(date1) and year(date2)"? > For example, let date1 =2001-01-01 and date2= 2004-01-01 2001 has 365 days 2002 has 365 days 2003 has 365 days 2004 has 366 days So average = 365.25 Check YEARFRAC(date1;date2;1) in that instance. Procedure E says the answer would be equal to (365+365+365)/365.25 = 2.997946612, which is what Excel returns. Maybe there is a better way to state that. Maybe, "the average of the number of days in each of years between date1 and date2"? > On second thought procedure E is strange: > the days in year for date1=2001/1/1 and date2=2007/12/31 according to > that procedure is 366. Do we really want that? (I had thought that > actual/actual was reasonable). > So in your case the average year length would be 365 1/7 = 365.1428571 The number of days would be: 365 + 365 + 365 + 366 +365 + 365 +364 = 2556 So YEARFRAC in that case = 6.997261346, which matches Excel. So I think we know what gives the right answer. I'll try to clarify the definition in Procedure E. > Andreas > > > -- > Andreas J. Guelzow > Concordia University College of Alberta >

**Follow-Ups**:**Re: [office-formula] Reformulation of Day Count Bases***From:*"Andreas J. Guelzow" <andreas.guelzow@concordia.ab.ca>

**References**:**Groups - YEARFRAC.odt uploaded***From:*robert_weir@us.ibm.com

**Reformulation of Day Count Bases***From:*robert_weir@us.ibm.com

**Re: [office-formula] Reformulation of Day Count Bases***From:*"Andreas J. Guelzow" <andreas.guelzow@concordia.ab.ca>

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