TBILLYIELD(settlement, maturity, price)

Returns the yield for a treasury bill.

settlementThe settlement date of the treasury bill.
maturityThe maturity date of the treasury bill.
priceThe treasury bill's price per $100 face value.

Remarks

* The "settlement" is the date when the treasury bill is traded to the buyer.
* The "maturity" is the date when the treasury bill 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 more than one year after "settlement", 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 "price" <= 0, then #NUM! is returned.
* 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

 A
1=TBILLYIELD("3/1/1999","6/1/1999",98.45) = 1.889
2=TBILLYIELD("3/1/1999","6/1/1999",10/100) = 119880

Example 1 - What is the interest rate on a treasury bill that has a maturity date of 31 Dec 2011 that is priced at $96 and settles on 31 Jun 2011
??

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