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 = US 30/360 (default)
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

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.
* There is also a YIELD for the yield of ???
* There is also a YIELDDISC for the yield of a discounted security.
* 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=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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