Date Difference

Why Date Calculation is Complex

Calculating the duration between two dates is tricky because months have different lengths (28, 30, 31 days) and leap years occur every 4 years. A simple subtraction doesn't work for precise day counts.

Day Count Conventions

• Actual/Actual: Uses the exact number of days in months and years. Used for personal calculations.
• 30/360: Assumes every month has 30 days and a year has 360 days. Often used in finance for bond interest calculations.

Common Uses

• Project Management: Calculating the days between project milestones.
• Travel Planning: Determining the exact duration of a trip or visa validity.
• Financial Planning: Calculating interest accrual periods on loans or investments.
• Event Planning: Counting down to weddings, retirements, or product launches.