Interest Day-Count Calculator
Calculate standard commercial interest accrual day counts and statement calendar fractions using industry conventions.
The Interest Day-Count Calculator computes days and interest fractions between statement dates. Enforcing standards like ACT/360, ACT/365, or 30/360, it assists finance analysts, traders, and accountants with audit calculations.
How to Calculate Interest Days
- Select the statement start date.
- Select the statement end date.
- Choose the day-count convention from the dropdown (ACT/360, ACT/365, or 30/360).
- Read the precise exact day count and calculated year fraction.
Bond Yield Calculations
Calculate accrued interest for corporate bonds using the 30/360 NASD day-count standard.
Commercial Loan Audits
Verify interest payments for loans calculated on an ACT/360 basis, where the year is treated as 360 days.
Treasury Note Yield Checks
Compute yields for government securities utilizing the ACT/365 convention.
For related calculations, check out other utility widgets such as Loan Maturity Date Calculator, Statutory Tenancy Notice Planner, and Age Calculator (Down to the Second).
Frequently Asked Questions
What is a day-count convention?
It is a standard method used in finance to determine how interest accrues over time, specifying how days are counted in a month and year.
Why does the ACT/360 convention exist?
ACT/360 counts the actual days in the accrual period but assumes a 360-day year. This yields slightly higher interest payments than a 365-day year, which is standard in commercial bank lending.
How does the 30/360 convention handle calendar differences?
Under 30/360, every month is treated as having exactly 30 days, and the year as 360 days, simplifying manual calculations by eliminating varying month lengths.