Conventional year

The number of days per year, used to calculate interest or discount for a given period, based on a nominal annual rate.

The number of days in a conventional year may differ from the number of days in the calendar year, depending on the currency and market.

Examples of different numbers of days per conventional year include:

• 360, for example in the ACT/360 convention
• 365, for example in the ACT/365 fixed convention
• 366 or 365, for example in the ACT/365 convention

See also

• Day count conventions
• ACT/360
• ACT/365 fixed
• ACT/365
• Discount
• Interest
• Periodic
• Nominal annual rate