# DISC

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

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

 settlement The settlement date of the security. maturity The maturity date of the security. price The security's price per \$100 face value. redemption The security's redemption value per \$100 face value. basis (Optional) The type of day counting to use:0 = 30/360 (default)1 = Actual/Actual2 = Actual/3603 = Actual/3654 = 30E/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.* For the Microsoft documentation refer to support.microsoft.com* For the Google documentation refer to support.google.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.