The Excel DOLLARDE function converts a dollar price entered with a special notation to a dollar price displayed as a decimal number. The DOLLARFR function does the opposite conversion.
Convert dollar price as fraction to decimal
Equivalent decimal number
=DOLLARDE (fractional_dollar, fraction)
fractional_dollar - Dollar component in special fractional notation.
fraction - The denominator in the fractional unit. 8 = 1/8, 16 = 1/16, 32 = 1/32, etc.
The DOLLARDE function is a financial function which converts values pricing entered with a particular fractional notation into an equivalent decimal number. It can be used for securities where pricing is given to the nearest 1/8, 1/16, 1/32, etc.
For example, to convert the the price "3 and 1/16" to an equivalent decimal value, you can use the DOLLARDE function like this: