Formulas and Functions

Related Topics
For related functions and additional information, see:
“BONDMDURATION” on page 104
“Common Arguments Used in Financial Functions” on page 341
“Listing of Financial Functions” on page 96
“Value Types” on page 36
“The Elements of Formulas” on page 15
“Using the Keyboard and Mouse to Create and Edit Formulas” on page 26
“Pasting from Examples in Help” on page 41
BONDMDURATION
The BONDMDURATION function returns the modied weighted average of the present
value of the cash ows for an assumed par value of $100.
BONDMDURATION(settle, maturity, annual-rate, annual-yield, frequency, days-basis)
 settle: The trade settlement date. settle is a date/time value. The trade settlement
date is usually one or more days after the trade date.
 maturity: The date when the security matures. maturity is a date/time value. It must
be after settle.
 annual-rate: The annual coupon rate or stated annual interest rate of the security.
annual-rate is a number value and is either entered as a decimal (for example, 0.08)
or with a percent sign (for example, 8%).
 annual-yield: The annual yield of the security. annual-yield is a number value and is
either entered as a decimal (for example, 0.08) or with a percent sign (for example, 8%).
 frequency: The number of coupon payments each year.
annual (1): One payment per year.
semiannual (2): Two payments per year.
quarterly (4): Four payments per year.
 days-basis: An optional argument specifying the number of days per month and
days per year used in the calculations.
30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD
method for dates falling on the 31st of a month.
actual/actual (1): Actual days in each month, actual days in each year.
actual/360 (2): Actual days in each month, 360 days in a year.
104 Chapter 6 Financial Functions