DOLLARDE function: Description, Usage, Syntax, Examples and Explanation
What is DOLLARDE function in Excel?
DOLLARDE function is one of the Financial functions in Microsoft Excel that converts a dollar price expressed as an integer part and a fraction part, such as 1.02, into a dollar price expressed as a decimal number. Fractional dollar numbers are sometimes used for security prices.
The fraction part of the value is divided by an integer that you specify. For example, if you want your price to be expressed to a precision of 1/16 of a dollar, you divide the fraction part by 16. In this case, 1.02 represents $1.125 ($1 + 2/16 = $1.125).
Syntax of DOLLARDE function
The DOLLARDE function syntax has the following arguments:
- Fractional_dollar: A number expressed as an integer part and a fraction part, separated by a decimal symbol.
- Fraction: The integer to use in the denominator of the fraction.
DOLLARDE formula explanation
- If fraction is not an integer, it is truncated.
- If fraction is less than 0, DOLLARDE returns the #NUM! error value.
- If fraction is greater than or equal to 0 and less than 1, DOLLARDE returns the #DIV/0! error value.
Example of DOLLARDE function
Steps to follow:
1. Open a new Excel worksheet.
2. Copy data in the following table below and paste it in cell A1
Note: For formulas to show results, select them, press F2 key on your keyboard and then press Enter.
You can adjust the column widths to see all the data, if need be.
|=DOLLARDE(1.02,16)||Converts 1.02, read as 1 and 2/16, to a decimal number (1.125). Because the fraction value is 16, the price has a precision of 1/16 of a dollar.||1.125|
|=DOLLARDE(1.1,32)||Converts 1.1, read as 1 and 10/32, to a decimal number (1.3125). Because the fraction value is 32, the price has a precision of 1/32 of a dollar.||1.3125|