How can I understand “thirty-seconds of a dollar”?
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9
down vote
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I read the following sentence in the book Options, Futures, and Other Derivatives:
Treasury bond prices in the United States are quoted in dollars and thirty-seconds of a dollar.
Here is my question:
How should I understand the phrase in bold, namely, "thirty-seconds of a dollar"?
I think the plural form "thirty-seconds" means several thirty-seconds of a dollar. Does it make sense?
phrases
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
|
show 3 more comments
up vote
9
down vote
favorite
I read the following sentence in the book Options, Futures, and Other Derivatives:
Treasury bond prices in the United States are quoted in dollars and thirty-seconds of a dollar.
Here is my question:
How should I understand the phrase in bold, namely, "thirty-seconds of a dollar"?
I think the plural form "thirty-seconds" means several thirty-seconds of a dollar. Does it make sense?
phrases
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
2
You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
1
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
1
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
2
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35
|
show 3 more comments
up vote
9
down vote
favorite
up vote
9
down vote
favorite
I read the following sentence in the book Options, Futures, and Other Derivatives:
Treasury bond prices in the United States are quoted in dollars and thirty-seconds of a dollar.
Here is my question:
How should I understand the phrase in bold, namely, "thirty-seconds of a dollar"?
I think the plural form "thirty-seconds" means several thirty-seconds of a dollar. Does it make sense?
phrases
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
I read the following sentence in the book Options, Futures, and Other Derivatives:
Treasury bond prices in the United States are quoted in dollars and thirty-seconds of a dollar.
Here is my question:
How should I understand the phrase in bold, namely, "thirty-seconds of a dollar"?
I think the plural form "thirty-seconds" means several thirty-seconds of a dollar. Does it make sense?
phrases
phrases
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
edited Oct 24 '11 at 4:47
yoozer8
6,77073978
6,77073978
asked Oct 23 '11 at 1:23
siyan
76125
asked Oct 23 '11 at 1:23
siyan
76125
asked Oct 23 '11 at 1:23
siyan
76125
76125
2
You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
1
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
1
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
2
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35
|
show 3 more comments
2
You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
1
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
1
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
2
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35
2
2
You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
1
1
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
1
1
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
2
2
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35
|
show 3 more comments
7 Answers
7
active
oldest
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up vote
18
down vote
- Half a dollar = 50 cents
- A quarter of a dollar = 25 cents
- An eighth of a dollar = 12.5 cents
- A sixteenth of a dollar = 6.25 cents
- A thirty-second of a dollar = 3.125 cents
Stocks used to be traded in fractional parts of a dollar too, but changed to decimal pricing many years ago.
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
add a comment |
up vote
3
down vote
I think the phrase will be easier to understand if you break the sentence into two parts:
- Treasury bond prices in the United States are quoted in dollars.
- Treasury bond prices in the United States are also quoted in thirty-seconds of a dollar.
Now you can view "thirty-second of a dollar" as a new unit for quoting treasury bond prices. The usage of plural form "thirty-seconds" is the same as that of "dollars" in the first sentence above.
answered Oct 23 '11 at 16:05
Jack
1,11842141
add a comment |
up vote
2
down vote
The plural is that way because it should be "thirty-second parts of a dollar".
answered Oct 23 '11 at 3:25
mgb
21.9k23687
add a comment |
up vote
2
down vote
If the unit price were $0.25, it would be put into words as quarters of a dollar (or quarters, in normal speech). If it were $0.20, it would be fifths of a dollar. Following this pattern, thirty-seconds of a dollar means "a unit price of $.03125". It sounds odd because only the US Treasury (as far as I know) uses this particular measurement.
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
add a comment |
up vote
1
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I believe it is a fraction, e.g. 1/32. Though it sounds odd to me, imperial measurements do not always make sense. ;)
answered Oct 23 '11 at 1:39
TLP
677416
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
add a comment |
up vote
0
down vote
I also read about this term in John Hull's book And got confused
It's a term used in Treasury securities. 1/32 of a dollar, 4/32 of a dollar, etc. So if it says 110:08, that means 110 dollars plus 8/32 of a dollar, or 110--1/4, or $110.25
answered Mar 15 '15 at 14:45
Saurabh
1
add a comment |
up vote
0
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Simply convert what comes after the dollar (out of 32) to cents (out of 100). For example if the treasury price is 1 dollar and 2/32th, the "2/32th" part converts to 6.25/100 ((2 * 100) / 32). That is, the treasury price is 1 dollar and 6.25 cents.
answered 3 hours ago
Saeed
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7 Answers
7
active
oldest
votes
7 Answers
7
active
oldest
votes
active
oldest
votes
active
oldest
votes
up vote
18
down vote
- Half a dollar = 50 cents
- A quarter of a dollar = 25 cents
- An eighth of a dollar = 12.5 cents
- A sixteenth of a dollar = 6.25 cents
- A thirty-second of a dollar = 3.125 cents
Stocks used to be traded in fractional parts of a dollar too, but changed to decimal pricing many years ago.
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
add a comment |
up vote
18
down vote
- Half a dollar = 50 cents
- A quarter of a dollar = 25 cents
- An eighth of a dollar = 12.5 cents
- A sixteenth of a dollar = 6.25 cents
- A thirty-second of a dollar = 3.125 cents
Stocks used to be traded in fractional parts of a dollar too, but changed to decimal pricing many years ago.
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
add a comment |
up vote
18
down vote
up vote
18
down vote
- Half a dollar = 50 cents
- A quarter of a dollar = 25 cents
- An eighth of a dollar = 12.5 cents
- A sixteenth of a dollar = 6.25 cents
- A thirty-second of a dollar = 3.125 cents
Stocks used to be traded in fractional parts of a dollar too, but changed to decimal pricing many years ago.
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
- Half a dollar = 50 cents
- A quarter of a dollar = 25 cents
- An eighth of a dollar = 12.5 cents
- A sixteenth of a dollar = 6.25 cents
- A thirty-second of a dollar = 3.125 cents
Stocks used to be traded in fractional parts of a dollar too, but changed to decimal pricing many years ago.
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
edited Oct 23 '11 at 10:50
Hugo
57.8k12167267
57.8k12167267
answered Oct 23 '11 at 1:38
Mark
41925
answered Oct 23 '11 at 1:38
Mark
41925
answered Oct 23 '11 at 1:38
Mark
41925
41925
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
add a comment |
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
What does second mean in this
– Jan
Oct 23 '11 at 13:46
What does second mean in this
– Jan
Oct 23 '11 at 13:46
2
2
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
@Jan: 2 - one half, 4 - one fourth or a quarter, 8 - one eighth, 16 - one sixteenth, 32 - one thirty-second. 'second' is really 'second' and is the ordinal corresponding to 2 as the part of 32, -not- the 'second' in terms of time, a sixtieth of a minute.
– Mitch
Oct 23 '11 at 14:03
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
You can also think "thirty-twoths" if you like - one part in thirty-two. It's incorrect English but it helps get the maths straight. Just remember when you say it you should say thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:43
1
1
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
Not really many years ago. The NYSE switched from 1⁄16ths to cents in 2001, despite US currency having been decimalized in 1791.
– Dan
Oct 25 '11 at 0:14
add a comment |
up vote
3
down vote
I think the phrase will be easier to understand if you break the sentence into two parts:
- Treasury bond prices in the United States are quoted in dollars.
- Treasury bond prices in the United States are also quoted in thirty-seconds of a dollar.
Now you can view "thirty-second of a dollar" as a new unit for quoting treasury bond prices. The usage of plural form "thirty-seconds" is the same as that of "dollars" in the first sentence above.
answered Oct 23 '11 at 16:05
Jack
1,11842141
add a comment |
up vote
3
down vote
I think the phrase will be easier to understand if you break the sentence into two parts:
- Treasury bond prices in the United States are quoted in dollars.
- Treasury bond prices in the United States are also quoted in thirty-seconds of a dollar.
Now you can view "thirty-second of a dollar" as a new unit for quoting treasury bond prices. The usage of plural form "thirty-seconds" is the same as that of "dollars" in the first sentence above.
answered Oct 23 '11 at 16:05
Jack
1,11842141
add a comment |
up vote
3
down vote
up vote
3
down vote
I think the phrase will be easier to understand if you break the sentence into two parts:
- Treasury bond prices in the United States are quoted in dollars.
- Treasury bond prices in the United States are also quoted in thirty-seconds of a dollar.
Now you can view "thirty-second of a dollar" as a new unit for quoting treasury bond prices. The usage of plural form "thirty-seconds" is the same as that of "dollars" in the first sentence above.
answered Oct 23 '11 at 16:05
Jack
1,11842141
I think the phrase will be easier to understand if you break the sentence into two parts:
- Treasury bond prices in the United States are quoted in dollars.
- Treasury bond prices in the United States are also quoted in thirty-seconds of a dollar.
Now you can view "thirty-second of a dollar" as a new unit for quoting treasury bond prices. The usage of plural form "thirty-seconds" is the same as that of "dollars" in the first sentence above.
answered Oct 23 '11 at 16:05
Jack
1,11842141
answered Oct 23 '11 at 16:05
Jack
1,11842141
answered Oct 23 '11 at 16:05
Jack
1,11842141
answered Oct 23 '11 at 16:05
Jack
1,11842141
1,11842141
add a comment |
add a comment |
up vote
2
down vote
The plural is that way because it should be "thirty-second parts of a dollar".
answered Oct 23 '11 at 3:25
mgb
21.9k23687
add a comment |
up vote
2
down vote
The plural is that way because it should be "thirty-second parts of a dollar".
answered Oct 23 '11 at 3:25
mgb
21.9k23687
add a comment |
up vote
2
down vote
up vote
2
down vote
The plural is that way because it should be "thirty-second parts of a dollar".
answered Oct 23 '11 at 3:25
mgb
21.9k23687
The plural is that way because it should be "thirty-second parts of a dollar".
answered Oct 23 '11 at 3:25
mgb
21.9k23687
answered Oct 23 '11 at 3:25
mgb
21.9k23687
answered Oct 23 '11 at 3:25
mgb
21.9k23687
answered Oct 23 '11 at 3:25
mgb
21.9k23687
21.9k23687
add a comment |
add a comment |
up vote
2
down vote
If the unit price were $0.25, it would be put into words as quarters of a dollar (or quarters, in normal speech). If it were $0.20, it would be fifths of a dollar. Following this pattern, thirty-seconds of a dollar means "a unit price of $.03125". It sounds odd because only the US Treasury (as far as I know) uses this particular measurement.
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
add a comment |
up vote
2
down vote
If the unit price were $0.25, it would be put into words as quarters of a dollar (or quarters, in normal speech). If it were $0.20, it would be fifths of a dollar. Following this pattern, thirty-seconds of a dollar means "a unit price of $.03125". It sounds odd because only the US Treasury (as far as I know) uses this particular measurement.
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
add a comment |
up vote
2
down vote
up vote
2
down vote
If the unit price were $0.25, it would be put into words as quarters of a dollar (or quarters, in normal speech). If it were $0.20, it would be fifths of a dollar. Following this pattern, thirty-seconds of a dollar means "a unit price of $.03125". It sounds odd because only the US Treasury (as far as I know) uses this particular measurement.
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
If the unit price were $0.25, it would be put into words as quarters of a dollar (or quarters, in normal speech). If it were $0.20, it would be fifths of a dollar. Following this pattern, thirty-seconds of a dollar means "a unit price of $.03125". It sounds odd because only the US Treasury (as far as I know) uses this particular measurement.
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
edited Oct 26 '11 at 10:50
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
answered Oct 23 '11 at 10:35
TimLymington
32.4k775142
32.4k775142
add a comment |
add a comment |
up vote
1
down vote
I believe it is a fraction, e.g. 1/32. Though it sounds odd to me, imperial measurements do not always make sense. ;)
answered Oct 23 '11 at 1:39
TLP
677416
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
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up vote
1
down vote
I believe it is a fraction, e.g. 1/32. Though it sounds odd to me, imperial measurements do not always make sense. ;)
answered Oct 23 '11 at 1:39
TLP
677416
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
add a comment |
up vote
1
down vote
up vote
1
down vote
I believe it is a fraction, e.g. 1/32. Though it sounds odd to me, imperial measurements do not always make sense. ;)
answered Oct 23 '11 at 1:39
TLP
677416
I believe it is a fraction, e.g. 1/32. Though it sounds odd to me, imperial measurements do not always make sense. ;)
answered Oct 23 '11 at 1:39
TLP
677416
answered Oct 23 '11 at 1:39
TLP
677416
answered Oct 23 '11 at 1:39
TLP
677416
answered Oct 23 '11 at 1:39
TLP
677416
677416
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
add a comment |
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
3
3
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
This has nothing to do with imperial measurements, the dollar isn't an imperial measurement. Fractions do not necessarily imply imperial measurements: "half a kilo" is metric.
– Hugo
Oct 23 '11 at 10:53
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
"half a kilo" makes sense. "three and a half thirty-seconds of a pound" makes no sense at all.
– TLP
Oct 23 '11 at 13:13
4
4
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
"Making sense" is hardly the standard for determining what system of measurement it belongs to. This is neither imperial nor metric.
– jprete
Oct 23 '11 at 13:39
2
2
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
I did not claim it was a unit of the imperial measurement system, such as feet, inches or bushels. I said that it was a fraction, and I made an assumption that it was coming from a culture that uses Imperial measurements, because it makes no sense coming from a metric culture.
– TLP
Oct 23 '11 at 13:51
add a comment |
up vote
0
down vote
I also read about this term in John Hull's book And got confused
It's a term used in Treasury securities. 1/32 of a dollar, 4/32 of a dollar, etc. So if it says 110:08, that means 110 dollars plus 8/32 of a dollar, or 110--1/4, or $110.25
answered Mar 15 '15 at 14:45
Saurabh
1
add a comment |
up vote
0
down vote
I also read about this term in John Hull's book And got confused
It's a term used in Treasury securities. 1/32 of a dollar, 4/32 of a dollar, etc. So if it says 110:08, that means 110 dollars plus 8/32 of a dollar, or 110--1/4, or $110.25
answered Mar 15 '15 at 14:45
Saurabh
1
add a comment |
up vote
0
down vote
up vote
0
down vote
I also read about this term in John Hull's book And got confused
It's a term used in Treasury securities. 1/32 of a dollar, 4/32 of a dollar, etc. So if it says 110:08, that means 110 dollars plus 8/32 of a dollar, or 110--1/4, or $110.25
answered Mar 15 '15 at 14:45
Saurabh
1
I also read about this term in John Hull's book And got confused
It's a term used in Treasury securities. 1/32 of a dollar, 4/32 of a dollar, etc. So if it says 110:08, that means 110 dollars plus 8/32 of a dollar, or 110--1/4, or $110.25
answered Mar 15 '15 at 14:45
Saurabh
1
answered Mar 15 '15 at 14:45
Saurabh
1
answered Mar 15 '15 at 14:45
Saurabh
1
answered Mar 15 '15 at 14:45
Saurabh
1
1
add a comment |
add a comment |
up vote
0
down vote
Simply convert what comes after the dollar (out of 32) to cents (out of 100). For example if the treasury price is 1 dollar and 2/32th, the "2/32th" part converts to 6.25/100 ((2 * 100) / 32). That is, the treasury price is 1 dollar and 6.25 cents.
answered 3 hours ago
Saeed
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
up vote
0
down vote
Simply convert what comes after the dollar (out of 32) to cents (out of 100). For example if the treasury price is 1 dollar and 2/32th, the "2/32th" part converts to 6.25/100 ((2 * 100) / 32). That is, the treasury price is 1 dollar and 6.25 cents.
answered 3 hours ago
Saeed
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
up vote
0
down vote
up vote
0
down vote
Simply convert what comes after the dollar (out of 32) to cents (out of 100). For example if the treasury price is 1 dollar and 2/32th, the "2/32th" part converts to 6.25/100 ((2 * 100) / 32). That is, the treasury price is 1 dollar and 6.25 cents.
answered 3 hours ago
Saeed
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Simply convert what comes after the dollar (out of 32) to cents (out of 100). For example if the treasury price is 1 dollar and 2/32th, the "2/32th" part converts to 6.25/100 ((2 * 100) / 32). That is, the treasury price is 1 dollar and 6.25 cents.
answered 3 hours ago
Saeed
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
answered 3 hours ago
Saeed
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
answered 3 hours ago
Saeed
101
answered 3 hours ago
Saeed
101
101
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Saeed is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
add a comment |
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You can see bonds prices quoted in 1/32th increments here. As of 2011-10-23 you can see the 5 year note with a 1% coupon quoted with a price of "99-21¾" = 99 + 21.75/32 resulting in a yield of 1.07%.
– user786653
Oct 23 '11 at 15:46
@siyan, were you thinking as follows? By analogy with "thirty-seconds of a minute", or half a minute, "thirty-seconds of a dollar" is 50 cents? That would not be entirely correct.
– James Waldby - jwpat7
Oct 23 '11 at 16:40
1
I think it ought to be thirty-secondths.
– Optimal Cynic
Oct 24 '11 at 6:40
1
Like .33 is a thirdth and .2 is a fifthth?
– TimLymington
Oct 27 '11 at 15:59
2
@OptimalCynic Not so. The older usage, from which the modern usage derives, is "the third, fourth, tenth, twelfth, &c part of [a dollar]", consistently employing the ordinal. This generates "first" for numbers greater than 11 ending in the digit "1", "second" for numbers greater than 12 ending in the digit "2", "third" for numbers greater than 13 ending in the digit "3", and "-th" for other numbers, because their ordinals all end in "-th". One thirtieth, one thirty-first, one thirty-second, one thirty-third, one thirty-fourth, and so forth (or 4th).
– StoneyB
Dec 24 '12 at 17:35