Syntax: YEARFRAC(S, E[, B])
S = a date value that represents the start date
E = a date value that represents the end date
B = (Optional) The day count basis to be used:
| 0 or omitted | 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
YEARFRAC returns the year fraction representing the number of whole days between S (start date) and E (end date). This function is useful in calculating the percent of benefit or obligation to assign a specific period.
Examples:
YEARFRAC(DATE(94, 1, 1), DATE(94, 5, 30), 0) = 0.4167
YEARFRAC(DATE(94, 1, 1), DATE(94, 5, 30), 1) = 0.4110
Excel function: N/A