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Actual/360

Definition:

Day count convention for calculating interest accrued on U.S. Treasury bills and other money market instruments. Uses actual number of days in a month and 360 days in a year for calculating interest payments. Also see Day count convention.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Record date

(1) Date by which a shareholder must officially own shares in order to be entitled to a dividend. For example, a firm might declare a dividend on Nov. 1, payable Dec. 1 to holders of record Nov. 15.... Read More

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