Purpose
Return value
Syntax
=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.
How to use
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 price "3 and 1/16" to an equivalent decimal value, you can use the DOLLARDE function like this:
=DOLLARDE(3.01,16) // returns 3.0625
Notice first argument shows the whole dollar value on the left, and the decimal component is used to express the numerator (.01 = 1, .11 = 11, etc.). The second argument is the denominator.
In the example shown, the formula column E, copied down, is:
=DOLLARDE(C6,D6)
On each row, the DOLLARDE function picks up the fractional dollar notation from column C and the denominator from column D.
Notes
- Both fractional_dollar and fraction arguments must be numeric values.
- The value for fraction must be greater than zero.
Related functions
DOLLAR Function
The Excel DOLLAR function converts a number to text using the Currency number format. The TEXT function can do the same thing, and is much more versatile.
