todecimal - Fractional to decimal conversion
Syntax
usddec = todecimal(quote, fracpart)
Description
usddec = todecimal(quote, fracpart)
returns the decimal equivalent, usddec, of a security
whose price is normally quoted as a whole number and a fraction (quote). fracpart indicates
the fractional base (denominator) with which the security is normally
quoted (default = 32).
Examples
In the Wall Street Journal, bond prices
are quoted in fractional form based on a denominator of 32. For example,
if you see the quoted price is 100:05 it means 100 5/32. To find the
equivalent decimal value, enter
usddec = todecimal(100.05)
usddec =
100.1563
usddec = todecimal(97.04, 16)
usddec =
97.2500
Note
The convention of using . (period) as a substitute
for : (colon) in the input is adopted from Excel software. |
See Also
toquoted
 | today | | tomonthly |  |
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