ACT 360

Subtype of Name

Actual/360 convention, also known as Act/360, or A/360
Let [T₁,T₂) be the period between two dates T₁ and T₂, of which the length L in annual units must be calculated
Calculation rule:
Let N be the actual number of days of the period [T₁,T₂), formally defined as the difference: T₂ - T₁
Then
L = N/360