EXCEL DAYS360 FUNCTION30/360 DAYS COUNT CONVENTION

By Nooruddin Surani

Introduction• The Gregorian calendar is the internationally accepted

civil calendar. But due to different number of days in differentmonths makes it difficult towork on financial calculationsusing Gregorian calendar

• While working on FinancialModels it is easy to dealwith 30/360 days year as most of the financial,corporate & municipal institutions follow the same

No. Name Days1 January 312 February 28 or 29

3 March 314 April 305 May 316 June 307 July 318 August 319 September 30

10 October 3111 November 30

12 December 31

Gregorian calendar. (2010, March 16). In Wikipedia, The Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php?title=Gregorian_calendar&oldid=350173459

Working with 30/360 Days with Excel• In Excel it is very easy to work with 30/360 Days Count

Convention• Syntax:

=DAYS360(START_DATE, END_DATE, [METHOD])• Where START_DATE is the first date and END_DATE is

the last date of the period

Example 1

• My date of birth is 7-Dec-1973 today’s date is 19-Mar-2010,follow theexample tounderstandthe same.

Conclusion• You can use Excel’s DAYS360 function to calculate

difference in two dates• This function will eliminate the confusion with Gregorian

Calendar regarding different number of days in different months, even different number of days in leap years

• Syntax:=DAYS360(START_DATE, END_DATE, [METHOD])

• Where START_DATE is the first date and END_DATE is the last date of the period

References• Gregorian calendar. (2010, March 16). In Wikipedia, The

Free Encyclopedia. Retrieved 15:25, March 19, 2010, from http://en.wikipedia.org/w/index.php?title=Gregorian_calendar&oldid=350173459

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