ACT/365: Difference between revisions
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imported>Doug Williamson (Distinguish ACT/365 fixed & add subheadings.) |
imported>Doug Williamson (Link with Leap year page.) |
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* [[Day count conventions]] | * [[Day count conventions]] | ||
* [[Conventional year]] | * [[Conventional year]] | ||
* [[Leap year]] | |||
Revision as of 19:13, 12 March 2016
ACT/365 is a day count convention which calculates the actual days in a time period, over the actual number of days in a calendar year.
In a normal year, this will be 365 days.
In a leap year it is 366 days.
ACT/ACT
The ACT/365 convention is also known as ACT/ACT, because the denominator is the actual number of days in the year.
The ACT/365 - or ACT/ACT - convention is also sometimes known as ACT/365 actual, or ACT/365 A.
ACT/365 fixed
The ACT/365 convention, described above, should not be confused with ACT/365 fixed.
Under the ACT/365 fixed convention, the number of days in the conventional year is fixed at 365 in all years.
