YIELDMAT

YIELDMAT(settlement, maturity, issue, rate, price [,basis])

Returns the interest rate (annual) for a security that pays interest at maturity.

settlementThe settlement date of the security.
maturityThe maturity date of the security.
issueThe issue date of the security.
rateThe security's interest rate at date of issue.
priceThe price per $100 face value.
basis(Optional) The type of day counting to use.
0 = 30/360 (default)
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = 30E/360

REMARKS
* This function returns what is commonly referred to as the yield to maturity.
* 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 "issue" date is the date ??
* 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" 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 "issue" is not an integer, it is truncated.
* If "issue" is not a valid date, then #NUM! is returned.
* If "rate" < 0, then #NUM! is returned.
* If "price" <= 0, then #NUM! is returned.
* If "basis" < 0, then #NUM! is returned.
* If "basis" > 4, then #NUM! is returned.
* If "basis" is left blank, then ??
* If "settlement" >= "maturity", then #NUM! is returned.
* You can use the YIELD function to return the interest rate (annual) for a series of equal cash flows at regular intervals.
* You can use the YIELDDISC function to return the interest rate (annual) for a discounted security (no interest payments).
* For the Microsoft documentation refer to support.microsoft.com
* For the Google documentation refer to support.google.com

 A
1=YIELDMAT("3/15/1999","11/3/1999","11/8/1998",0.0625,100.0123,0) = #VALUE!

1 - Suppose we have a 30-year bond is issued on January 1, 1996, and is purchased by a buyer six months later. The issue date would be January 1, 1996, the settlement date ould be July 1, 1996, and the maturity date would be January 1, 2026, which is 30 years after the January 1, 1996, issue date.

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