PRICEMAT ( settlement , maturity , issue , rate , yld [ , [ basis ] ] )
Description: Computes the price per $100 face value of a security that pays interest at maturity.
Mathematical Formula:
where:
B = number of days in year, depending on year basis.
DSM = number of days from settlement to maturity.
DIM = number of days from issue to maturity.
A = number of days from issue to settlement.
Arguments:
|
Name |
Type |
Description | ||||||||||||
|
settlement |
number |
The security's settlement date. | ||||||||||||
|
maturity |
number |
The security's maturity date. | ||||||||||||
|
issue |
number |
The security's issue date. | ||||||||||||
|
rate |
number |
The security's interest rate. | ||||||||||||
|
yld |
number |
The 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 price per $100 face value of a security that pays interest at maturity.
However, if
• settlement, maturity, or issue is out of range for the current date base value, #NUM! is returned.
• settlement ≥ maturity, #NUM! is returned.
• rate or yld < 0, #NUM! is returned.
• basis < 0 or basis > 4, #NUM! is returned.
[Example:
PRICEMAT(DATE(2008,2,15),DATE(2008,4,13),DATE(2007,11,11),0.061,0.061,0)
results in 99.9845
end example]