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The day count is also used to quantify periods of time when discounting a cash-flow to its present value. When a security such as a bond is sold between interest payment dates, the seller is eligible to some fraction of the coupon amount. The day count convention is used in many other formulas in financial mathematics as well.
The Rata Die method works by adding up the number of days d that has passed since a date of known day of the week D. The day of-the-week is then given by (D + d) mod 7, conforming to whatever convention was used to encode D. For example, the date of 13 August 2009 is 733632 days from 1 January AD 1. Taking the number mod 7 yields 4, hence a ...
Subtract the weekday number from the ordinal day of the year. Add 10. Divide by 7, discard the remainder. If the week number thus obtained equals 0, it means that the given date belongs to the preceding (week-based) year. If a week number of 53 is obtained, one must check that the date is not actually in week 1 of the following year. Formula
Applying the Doomsday algorithm involves three steps: determination of the anchor day for the century, calculation of the anchor day for the year from the one for the century, and selection of the closest date out of those that always fall on the doomsday, e.g., 4/4 and 6/6, and count of the number of days between that date and the date in ...
A variation is the 52–53-week calendar. It is used by companies that want their fiscal year to always end on the same day of the week. Any day of the week may be used, and Saturday and Sunday are common because the business may more easily be closed for counting inventory and other end-of-year accounting activities.
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The 360-day calendar is a method of measuring durations used in financial markets, in computer models, in ancient literature, and in prophetic literary genres.. It is based on merging the three major calendar systems into one complex clock [citation needed], with the 360-day year derived from the average year of the lunar and the solar: (365.2425 (solar) + 354.3829 (lunar))/2 = 719.6254/2 ...
February's 28 or 29 days is a problem, so the formula rolls January and February around to the end so February's short count will not cause a problem. The formula is interested in days of the week, so the numbers in the sequence can be taken modulo 7.
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