DOLLARDEfunction converts a price quotation given as a fraction into a decimal price, and returns the result as a dollar value. This function is commonly used in financial calculations.
- How to use
- Examples of using
DOLLARDEformula not working?
- Similar formulas to
DOLLARDE formula with the syntax shown below, it has 2 required parameters:
- fractional_price (required):
The price quotation given as a fraction. This should be a numeric value.
- unit (required):
The denominator of the fraction used in the price quotation. This should be a numeric value.
ExamplesHere are a few example use cases that explain how to use the
DOLLARDEformula in Google Sheets.
Converting a Fractional Price to a Decimal Price
Suppose you have a price quotation of 15 3/8, and you want to convert it to a decimal price. You can use the
DOLLARDE function to do this by specifying the fractional price and the denominator of the fraction as the parameters.
Calculating an Average Share Price
Suppose you want to calculate the average price of a share over a period of time. If you have the share prices listed as fractional prices, you can use the
DOLLARDE function to convert them to decimal prices before calculating the average.
Determining the Market Value of a Bond
Suppose you have a bond with a face value of $1000, and a price quotation of 98 1/4. You can use the
DOLLARDE function to calculate the market value of the bond by multiplying the decimal price by the face value.
DOLLARDEnot working? Here are some common mistakes people make when using the
DOLLARDEGoogle Sheets Formula:
Incorrect fractional price format
Users may input the fractional price in an incorrect format, causing the formula to return an error. The fractional price must be input in decimal format, not as a fraction.
Incorrect unit format
Users may input the unit in an incorrect format, causing the formula to return an error. The unit must be input as an integer or a reference to a cell containing an integer.
The following functions are similar to
DOLLARDE or are often used with it in a formula:
DOLLARfunction converts a number to text with a currency format. It is commonly used to display monetary values in a more readable and standardized way. The function takes one required argument and one optional argument.
DOLLARFRfunction converts a decimal price into a fraction of a dollar, rounded to the nearest fraction. It is commonly used for financial calculations.
PRICEfunction calculates the price per $100 face value of a security that pays periodic interest. It is commonly used to determine the current value of a bond. The function takes the settlement date, maturity date, annual coupon rate, yield, redemption value, and frequency of coupon payments as input. It returns the price of the security, which is the sum of the present value of the coupon payments and the present value of the redemption value.
The YIELD function calculates the yield of a security that pays periodic interest. The yield is the annualized percentage rate returned on the bond, assuming the bond is held until maturity. This function is commonly used in finance and investment analysis.
You can learn more about the
DOLLARDE Google Sheets function on Google Support.