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DAYS360
DAYS360 computes the number of days between two dates based on a 360-day calendar where every month has exactly 30 days, following either the US (NASD) or European convention. It is primarily used for bond interest calculations, mortgage payment schedules, and accounting systems that standardise on this convention.
Excel
=DAYS360(DATE(2024,1,1),DATE(2024,7,1),FALSE)Google Sheets
=DAYS360(DATE(2024,1,1),DATE(2024,7,1),FALSE)Try it with your data
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How it works
- 1Enter the start date in A2 and the end date in B2.
- 2Type =DAYS360(A2,B2,FALSE) for the US method or =DAYS360(A2,B2,TRUE) for the European method.
- 3Divide the result by 360 to get the year fraction, then multiply by your annual rate for accrued interest.
Need a version for your data?
Try: “Calculate the 30/360 day count between bond issuance and maturity dates”