toquoted - Decimal to fractional conversion

Syntax

quote = toquoted(usddec, fracpart)

Description

quote = toquoted(usddec, fracpart) returns the fractional equivalent, quote, of the decimal figure, usddec, based on the fractional base (denominator), fracpart. The fractional bases are the ones used for quoting equity prices in the United States (denominator 2, 4, 8, 16, or 32). If fracpart is not entered, the denominator 32 is assumed.

Examples

A United States equity price in decimal form is 101.625. To convert this to fractional form in eighths of a dollar:

quote = toquoted(101.625, 8)

quote =
        101.05

The answer is interpreted as 101 5/8.

Note   The convention of using . (period) as a substitute for : (colon) in the output is adopted from Excel software.

See Also

todecimal

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