Altering A Existing Formula For Converting Bond Prices

Mar 31, 2009

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Ok i have a formula that i use to convert bond prices, which are in 32nds to numbers that excel can understand. I use the formula:

=LEFT(F7,FIND("-",F7)-1)+SUBSTITUTE(RIGHT(F7,LEN(F7)-FIND("-",F7)),"+","")/IF(RIGHT(RIGHT(F7,LEN(F7)-FIND("-",F7)),1)="+",64,32)

This allows me to type 101-16 in and excel recognizes this as 101.5

My problem is that my data I am copying into the sheet is often in 1/8ths. So the price will come in as 101-272, which means 101-27 and 2/8 (or 1/4).

I admittedly dont understand this formula and just use. Can someone help me tweak it to recognize the third digit?

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