Question

Using the 30/360 day count convention, how many days are there from March 1, 2016 to April 10, 2016?

I thought it would be 39 days, but someone else thinks it should be 40 days. Which is it?

Answer 1

On the basis of 30/360 day each month has 30 days in 12 months of year. In the given case,period has been started from the first day of March then whole of the 30 days of March will be considered and 10 days of April will make the total days from March 1, 2016 to April 10, 2016 to 40.The reason of your 39 days may be exclusion of 1 day of March .But first day of march will also be considered and total 30 days of March will be considered instead of 31 days of March (on the basis of 30/360 Days).