Microsoft Office Tutorials and References

In Depth Information

**Examples of Miscellaneous Financial Functions**

Examples of Miscellaneous Financial Functions

Excel offers a few other financial functions that may be useful if you are

dealing with ancient historical data. On April 9, 2001, all U.S. stock mar-

kets were forced to start trading securities in dollars and cents instead of

dollars and fractions. The United States was the last nation using the frac-

tional system, which was an eighteenth-century system.

In the fractional system, a stock price may have been reported in the news-

paper as 5 5/8, which is roughly equivalent to $5.63. However, a common sys-

tem in brokerage houses was to record this as 5.5, with the .5 indicating 5/8. In

an alternative system, prices were recorded in 16ths, with, for example, 1.03

meaning 3/16.

Using

Using
DOLLARDE

Fractions

If you encounter an old worksheet that uses fractional prices, you can con-

vert them to decimals by using DOLLARDE. You must specify the price in the

nomenclature of the system and specify whether the number after the decimal

point is in 8ths, 16ths, or 32nds.

DOLLARDE
and

and
DOLLARFR

DOLLARFR
tto Convert

Convert Between

Between Decimals

Decimals and

and Fractions

Syntax

DOLLARDE(fractional_dollar,fraction)

The DOLLARDE function converts a dollar price expressed as a fraction in-

to a dollar price expressed as a decimal number. You use DOLLARDE to con-

vert fractional dollar numbers, such as securities prices, to decimal num-

bers. This function takes the following arguments:

•
fractional_dollar

fractional_dollar
—
This is a number expressed as a fraction.

•
fraction

fraction
—
This is the integer to use in the denominator of the frac-

tion.

Syntax

DOLLARFR(decimal_dollar,fraction)

The DOLLARFR function converts a dollar price expressed as a decimal num-

ber into a dollar price expressed as a fraction.