30/360, Actual/365, and Actual/360 Day Counts
Learn the three day counting conventions that banks use to calculate interest.
days360
DAYS360 Function – Google Sheets
The DAYS360 function calculates days using 30 days for each month. When using a 365-day daily interest rate computation, the interest rate is divided by 365 and multiplied by the principal for each day you calculate interest. When using a 360-day year method, the interest rate is divided by 360 and multiplied by the principal … Read more