CFI-Excel-eBook

The Corporate Finance Institute Excel
Example 2
Let’s assume we are handling the HR department. We need to calculate a
person’s age from their birth date. It can be done by using the YEARFRAC, INT,
and TODAY functions. In the generic version of the formula above, birthdate is
the person’s birthday with the year, and TODAY supplies the date on which to
calculate age. As the formula uses the TODAY function, it will continue to
calculate the correct age in the future as well. Suppose we are given the
following data:
The formula used was:
To work out the fraction of a year as a decimal value, Excel will use whole days
between two dates. As all dates are simply serial numbers, the process is
straightforward in Excel.
Hence, in this case, we provided birthdate as the start_date from cell B3, and
today’s date is supplied as the end_date by using the TODAY function.
After that, the INT function takes over and rounds down the number to its
integer value.
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