RECEIVED

Syntax:

RECEIVED ( settlement , maturity , investment , discount [ , [ basis ] ] )

Description: Computes the amount received at maturity 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 issue 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.
discount	number	The security's discount rate.
basis	number	The truncated integer type of day count basis to use, as follows: Value Day Count Basis 0 or omitted US (NASD) 30/360 1 Actual/actual 2 Actual/360 3 Actual/365 4 European 30/360

 

Time information in the date arguments is ignored.

Return Type and Value: number – The amount received at maturity for a fully invested security.

However, if

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

• settlement ≥ maturity, #NUM! is returned.

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

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

[Example:

RECEIVED(DATE(2008,2,15),DATE(2008,5,15),1000000,0.0575,2) results in 1014584.65

end example]