toquoted

Decimal to fractional conversion

Syntax

``quote = toquoted(usddec,fracpart)``

Description

example

````quote = toquoted(usddec,fracpart)` returns the fractional equivalent, `quote`, of the decimal figure, `usddec`, based on the fractional base (denominator), `fracpart`. The fractional bases are the ones used for quoting equity prices in the United States (denominator 2, 4, 8, 16, or 32). If `fracpart` is not entered, the denominator 32 is assumed.```

Examples

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A United States equity price in decimal form is 101.625. To convert this to fractional form in eighths of a dollar:

`quote = toquoted(101.625, 8)`
```quote = 101.0500 ```

The answer is interpreted as 101 5/8.

The convention of using . (period) as a substitute for : (colon) in the output is adopted from Excel ® software.

Input Arguments

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Equity price, specified as a numeric decimal.

Data Types: `double`

Fractional bases used for quoting equity prices in the United States, specified as a scalar numeric.

Data Types: `double`

Output Arguments

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Fractional equivalent, returned as a numeric. For example, bond prices are quoted in fractional form based on a 32nd. If you see the quoted price is `100:05`, it means 100 5/32 which is equivalent to 100.15625.

Version History

Introduced before R2006a