ACT/ACT: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Generalise to cover discounts as well as interest.) |
imported>Doug Williamson (Link with Leap year page.) |
||
| Line 20: | Line 20: | ||
* [[Day count conventions]] | * [[Day count conventions]] | ||
* [[Conventional year]] | * [[Conventional year]] | ||
* [[Leap year]] | |||
Revision as of 19:14, 12 March 2016
A day count convention which calculates actual days in a time period, over the actual number of days in a year.
In a normal year, this will be 365 days.
In a leap year it is 366 days.
The ACT/ACT convention is also sometimes known as ACT/365, because the denominator is usually 365.
Contrasted with ACT/365 fixed, where the denominator is always 365, including in a leap year.
