ACT/ACT: Difference between revisions
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imported>Doug Williamson (Link with Leap year page.) |
imported>Doug Williamson (Removed link) |
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== See also == | == See also == | ||
* [[Denominator]] | * [[Denominator]] | ||
* [[Interest]] | * [[Interest]] | ||
Revision as of 14:37, 16 November 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.
