Syntax:
DISC ( settlement , maturity , pr , redemption [ , [ basis ] ] )
Description: Computes the discount rate for a security.
Mathematical Formula:
where:
B = number of days in a year, depending on the year basis.
DSM = number of days between settlement and maturity.
Arguments:
|
Name |
Type |
Description | ||||||||||||
|
settlement |
number |
The security's settlement date. | ||||||||||||
|
maturity |
number |
The security's maturity date. | ||||||||||||
|
pr |
number |
The security's price per $100 face value. | ||||||||||||
|
redemption |
number |
The security's redemption value per $100 face value. | ||||||||||||
|
basis |
number |
The truncated integer type of day count basis to use, as follows:
|
Time information in the date arguments is ignored.
Return Type and Value: number – The discount rate for a security.
However, if
• settlement or maturity is out of range for the current date base value, #NUM! is returned.
• settlement ≥ maturity, #NUM! is returned.
• pr or redemption ≤ 0, #NUM! is returned.
• basis < 0 or basis > 4, #NUM! is returned.
[Example:
DISC(DATE(2007,1,25),DATE(2007,6,15),97.975,100,1) results in 5.2420%
end example]