Formulas and Functions

Table Of Contents

semiannual (2): Two payments per year.

quarterly (4): Four payments per year.

Â 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.

actual/365 (3): Actual days in each month, 365 days in a year.

30E/360 (4): 30 days in a month, 360 days in a year, using the European method for

dates falling on the 31st of a month (European 30/360).

Example

Assume you are considering the purchase of the hypothetical security described by the values listed.

You could use the COUPDAYBS function to determine the number of days from the last coupon

payment date until the settlement date. This would be the number of days included in the

computation of the accrued interest that would be added to the bond’s purchase price. The function

returns 2, since there are 2 days between the last coupon payment date of March 31, 2010, and the

settlement date of April 2, 2010.

settle maturity frequency days-basis

=COUPDAYBS(B2, C2,

D2, E2, F2, G2)

4/2/2010 12/31/2015 4 1