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.
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