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Accrual Factor

Represents the fraction of a year in a given period. There are two components that make up an accrual factor. The first component uses a day count convention to determine how many days fall in the accrual period, which will be the numerator in the calculation of the accrual factor. The second component is a day count convention to determine the number of days that make up a full period, which will be the denominator in the calculation of the accrual factor.

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