PRICE(settlement, maturity, rate, yield, redemption, frequency [,basis])
Returns the price of a security that pays periodic interest.
|settlement||The settlement date of the security.|
|maturity||The maturity date of the security.|
|rate||The fixed interest rate of the security.|
|yield||The annual yield of the security.|
|redemption||The redemption value of the security per $100 face value.|
|frequency||The number of coupon payments in a year:|
1 = annual
2 = semi annual
4 = quarterly
|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
|* The settlement date is the date a buyer purchases a coupon, such as a bond.|
* The maturity date is the date when a coupon expires.
* The yield of a security is the annual ??
* Dates must be entered as text strings with quotation marks or as serial numbers.
* If "settlement" is not an integer, it is truncated.
* If "settlement" = "maturity", then #NUM! is returned.
* If "maturity" has passed, then #VALUE! is returned.
* If "rate" < 0, then #NUM! is returned.
* If "yield" < 0, then #NUM! is returned.
* If "redemption" = 0, then #NUM! is returned.
* If "frequency" is not an integer, it is truncated.
* If "frequency" is any number other than 1, 2 or 4, 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.
* There is also a PRICEDISC for a discounted security (no interest payments).
* There is also a PRICEMAT for a security that pays its interest at maturity.
* This can be used to calculates a "clean" bond price.
* In Excel 2007 the accuracy of this function was improved.
* 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
|1 - What would the price be of a $100 corporate bond settylying on 31 Mar 2012 with a maturity date of 31 July 2012, a coupon of 5.75% paid semi-annual. The security's annual yield is 6.5%.|
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