DISC(settlement, maturity, price, redemption [,basis])

Returns the interest rate (or discount rate) for a security held to maturity.

settlementThe settlement date of the security.
maturityThe maturity date of the security.
priceThe security's price per $100 face value.
redemptionThe security's redemption value per $100 face value.
basis(Optional) The type of day counting to use:
0 = US 30/360 (default)
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

Remarks

* This interest rate is often called the discount rate.
* The "settlement" is the date a buyer purchases a coupon, such as a bond.
* The "maturity" is the date when the security expires.
* Dates must be entered as text strings within quotation marks or as serial numbers.
* If "settlement" is not an integer, it is truncated.
* If "settlement" >= "maturity", then #NUM! is returned.
* If "settlement" is not a valid date, then #NUM! is returned.
* If "maturity" is not an integer, it is truncated.
* If "maturity" is not a valid date, then #NUM! is returned.
* If "pr" <= 0, then #NUM! is returned.
* If "redemption" <= 0, then #NUM! is returned.
* If "basis" is left blank, then 0 is used.
* If "basis" is not an integer, it is truncated.
* If "basis" < 0, then #NUM! is returned.
* If "basis" > 4, then #NUM! is returned.
* This is similar to the INTRATE function.
* In Excel 2003 this function was only available when you had the Analysis ToolPak add-in loaded.
* For the Microsoft documentation refer to support.office.com

 A
1=DISC("31/3/2011","30/9/2011",97,100,0) = 6.00%
2=DISC("2/15/1998","6/10/1998",97.975,100,2) = #VALUE!

1 - What would the interest rate be if you bought something at a price of $97 with a settlement date of 31 Mar 2011 and then sold it at a price of $100 on a maturity date of 30 Sept 2011. Assuming a day count of 30/360.

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