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DAYS360

DAYS360

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Description 

Use this function to return the count of days between two specified dates based on a 360-day year. Supported in Chains. 

In this year, all months are assumed to have 30 days.

 

Syntax

DAYS360(start_date,end_date, [method])

 

Inputs

This function has the following arguments:

Name Required Valid input
start_date Yes

First date of the range to be considered. This can be a cell reference, an integer date, or a date in the format "DD/MM/YYYY" or "YYYY/MM/DD".
A formula which results in one of these is also acceptable. Quotation marks are required.
end_date Yes Last date of the range to be considered. This can be a cell reference, an integer date, or a date in the format "DD/MM/YYYY" or "YYYY/MM/DD".
A formula which results in one of these is also acceptable. Quotation marks are required.
method No

TRUE or FALSE

When method is FALSE (default) DAYS360 uses the US method to compute days. In this method, when the start date is the last day of a month, it is treated like the 30th day of that month. 
The end date is considered to be the 30th of the same month as the start date, unless the end date is the last day of a month and the start date is less than 30 days earlier, in which case the end date is treated as the 1st of the next month.

If method is TRUE, DAYS360 uses the European method to calculate days. In this method, if a start or end dates is the 31st of a month, they are set to the 30th of the month.

 

Examples

Sample data

  A B C D
1 2/28/2023 12/6/2024 TRUE .07
2 36711 November 30, 2000 FALSE .05
3 7/19/2003 Friday, May 31, 2002 45 15,000
4 12/23/2013 January 23, 2014 Orange 45,300

Sample formulas

Use case Formula Explanation and Result
Determine the difference between the supplied dates, with no method specified. =DAYS360("7/19/2003","9/19/2003") This formula returns 60.
Determine the difference between the date in cell A1 and the cell B1, with no method specified. =DAYS360(A1,B1) For this data set, this formula returns 636.
Determine the difference between the date in cell A2 and the cell B2, using the US method. =DAYS360(A2,B2,FALSE) For this data set, this formula returns 146.
Determine the difference between the date in cell A2 and the cell B2, using the European method, identified by referencing cell C1. =DAYS360(A1,B1,C1) For this data set, this formula returns 638.
Determine the difference between the date in cell A4 and the cell B4, referencing cell C4. =DAYS360(A4,B4,C4) #VALUE!
(because C4 is neither TRUE nor FALSE)
Determine the number of complete months between two dates based on a 360-day year. =TRUNC(DAYS360(A1, A2)/30)

This formula works in the following manner:

  • Cell A1 contains the start date stored as a date. Cell B1 contains the end date stored as a date.
  • DAYS360(A1, A2) calculates the number of days between the start and end dates based on a 360-day year.
  • Dividing the result by 30 gives an approximate number of months.
  • TRUNC(…) removes the decimal portion to give the number of complete months.

For this data set this formula returns 21.
Determine the accrued interest on a loan with a 360-day year. =(PRODUCT(DAYS360(A1,B1),D3,D1/360)

This formula works in the following manner:

  • Cell A1 contains the start date of the loan period stored as a date. Cell B1 contains the end date of the loan period stored as a date.
  • Cell D3 contains the Principal loan amount.
  • Cell D1 contains the Annual interest rate.
  • DAYS360(A1,B1) calculates the number of days between the start and end dates based on a 360-day year.
  • D1/360 calculates the daily interest rate.
  • PRODUCT(…) multiplies the number of days, the principal amount, and the daily interest rate to get the total accrued interest.

For this data set this formula returns 1855.

 

Notes

  • Wildcards don't work with this function.
  • The day value can be a numeric value or a US or European format date, but if a text date format is used, both dates must be in the same pattern. These dates must be in quotation marks.
  • The method value can be referenced for another cell.
  • If the start_date is after the end_date. the result will be a negative number.
  • DAYS360 only works with whole numbers and ignores time.
  • If dates aren't recognized, DAYS360 returns the #VALUE! error.
  • If dates are out of range, DAYS360 returns the #NUM! error.

 

Related functions

DATE
DATEVALUE
DAY
DAYS
DAYS360
EDATE
EOMONTH
MONTH
NETWORKDAYS
NETWORKDAYS.INTL
WEEKDAY
WORKDAY
WORKDAY.INTL
YEAR
YEARFRAC

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Description  Use this function to return the count of days between two specified dates based on a 360-day year. Suppo...