Syntax:

INTRATE ( settlement , maturity , investment , redemption [ , [ basis ] ] )

Description: Computes the interest rate for a fully invested security.

Mathematical Formula:

where:

B = number of days in a year, depending on the year basis.
DIM = number of days from settlement to maturity.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

investment

number

The amount invested in the security.

redemption

number

The amount to be received at maturity.he security's annual yield.

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 interest rate for a fully invested security.

However, if

• settlement or maturity is out of range for the current date base value, #NUM! is returned.

• investment or redemption ≤ 0, #NUM! is returned.

• basis < 0 or basis > 4, #NUM! is returned.

[Example:

INTRATE(DATE(2008,2,15),DATE(2008,5,15),1000000,1014420,2) results in 5.7680%

end example]