TBILLPRICE ( settlement , maturity , discount )

Description: Computes the price per $100 face value for a U.S. Treasury bill.

Mathematical Formula:

where:

DSM = number of days from settlement to maturity, excluding any maturity date that is more than one calendar year after the settlement date.

Arguments:

Name	Type	Description
settlement	number	The Treasury bill's settlement date. Any time information in the date is ignored.
maturity	number	The Treasury bill's maturity date. Any time information in the date is ignored.
discount	number	The Treasury bill's discount rate.

Return Type and Value: number – The price per $100 face value for a U.S. Treasury bill.

However, if

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

• maturity is more than one year after settlement, #NUM! is returned.

• discount ≤ 0, #NUM! is returned.

[Example:

TBILLPRICE(DATE(2008,3,31),DATE(2008,6,1),0.09) results in 98.4500

end example]