The following article introduces you to the YEARFRAC function - one of the functions in the date and time group function is very popular in Excel.
Description: The function returns the fifth as a whole number of days between two specific dates in Excel.
Syntax: YEARFRAC (start_date, end_date, [basis])
Inside:
- start_date: The start date to calculate the number of years, is a required parameter.
- end_date: The desired date to calculate the number of years, is a required parameter.
- basis: The basis for determining how to count dates, is an optional parameter including the following values:
+ basis = 0 -> Base counting days in US (NASD) 30/360.
+ basis = 1 -> Basis counting days is the actual number of days / actual year.
+ basis = 2 -> The basis of counting days is the number of actual days / 1 year 360 days.
+ basis = 3 -> Basis for counting days is the actual number of days / year with 365 days.
+ basis = 4 -> Base counting days according to EUROPEAN 30/360.
Attention:
- Excel stores the date as a serial number to facilitate the calculation process.
- All function arguments, if it is a decimal -> are truncated to integers.
- If the value of start_date, end_date is not a valid date -> the function returns the #VALUE! Error value
- If basis is outside of values 0 to 4 -> the function returns the #NUM! Error value
For example:
Calculate the number of years corresponding to the following time period:
- In the cell to calculate enter the formula: = YEARFRAC (E7, F7, G7).
- Press Enter -> the value corresponding to the above 2 dates is:
- Similarly copying the formula for the remaining values results:
- Where the basis value is outside the scope of its values -> the function returns the #NUM! Error value
Above are instructions and some specific examples when using the YEARFRAC function in Excel.
Good luck!