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Excel DOLLARFR Function

Excel DOLLARFR function
Summary 

The Excel DOLLARFR function converts a dollar price in a regular decimal number format to a dollar price in a particular fractional notation used for securities where pricing is given to the nearest 1/8, 1/16, 1/32, etc. The DOLLARDE function does the opposite conversion.

Purpose 
Convert price to fractional notation
Return value 
Dollar value in fractional notation
Syntax 
=DOLLARFR (decimal_dollar, fraction)
Arguments 
  • decimal_dollar - Pricing as a normal decimal number.
  • fraction - The denominator in the fractional unit. 8 = 1/8, 16 = 1/16, 32 = 1/32, etc.
Usage notes 

The Excel DOLLARFR function converts a dollar price in a regular decimal number format to a dollar price in a particular fractional notation used for securities where pricing is given to the nearest 1/8, 1/16, 1/32, etc. The DOLLARDE  function does the opposite conversion.

For example, to convert the the price "1 and 1/16" to decimal notation for pricing given to the nearest 1/16, you can use the DOLLARFR function like this:

=DOLLARFR(1.0625,16) // returns 1.01

Notice the first argument is a normal decimal value. The second argument is used to indicate the denominator of the fractional multiple to use for the conversion, i.e. 8 = 1/8, 16 = 1/16, 32 = 1/32, etc.

In the example shown, the formula column E, copied down, is:

=DOLLARFR(C6,D6)

On each row, the DOLLARDE function picks up the decimal value from column C and the fraction denominator from column D.

Notes

  1. Both decimal_dollar and fraction arguments must be numeric values.
  2. The value for fraction must be greater than zero.