How old is the owner of JMBG?

The unique identity number of citizens (JMBG) was created in the Socialist Federal Republic of Yugoslavia, and is still used today in the Republic of Serbia, for the purpose of identifying citizens. It is a mandatory datum in the identity card, driver’s license, health card, passport and all other important documents. Its first 9 digits indicate the date of birth. How to calculate the age of the JMBG holder based on this data?

YEARFRAC function

This function, for given start and end date, calculates how much time has passed in years, and as a result returns a decimal number. It can be used to calculate annual interest, future value and in other cases when it is necessary to know how many years have passed. In the text that follows, through a simple example, you will get to know this function.