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

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