Dates are passed into functions as serial values. That is, the standard calendar date is converted into a serial date number (e.g. 1/1/2003 = 37,622, meaning that there is 37,622 days between 1/1/1900 and 1/1/2003). All functions will accept both the calendar and the serial date formats. 
That is, the following two functions, which use different date formats, return identical values: 
Both of the above examples use cell references to input the dates (as well as all of the other parameters). Alternatively, parameters can be entered directly into the function formula, as per the following example: 
Referring to the formula bar, note that when entering dates directly into a function, they must be enclosed by quotation marks, e.g., "1/1/03". If the quotation marks are excluded, then the function will assume a mathematical procedure is being passed in, e.g. 1 / 1 / 3 = 0.3333, which will of course, return an incorrect value. 

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