ACT/ACT: Difference between revisions
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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. | Contrasted with ACT/365 fixed, where the denominator is ''always'' 365, including in a leap year. | ||
Revision as of 13:01, 14 December 2015
A day count convention which calculates actual days 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.
