Formulas and Functions

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
In this example, the PRICE function is used to determine the purchase price when trading the
hypothetical security described by the values listed. The security pays periodic interest.
The function evaluates to $106.50, which represents the price per $100 of face value.
settle maturity annual-rate annual-yield redemption frequency days-basis
=PRICE (B2,
C2, D2, E2, F2,
G2, H2)
05/01/2009 06/30/2015 0.065 0.0525 100 2 0
Related Topics
For related functions and additional information, see:
“PRICEDISC” on page 13 8
“PRICEMAT” on page 140
“YIELD” on page 150
“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
PRICEDISC
The PRICEDISC function returns the price of a security that is sold at a discount to
redemption value and does not pay interest per $100 of redemption (par) value.
PRICEDISC(settle, maturity, annual-yield, redemption, 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-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%).
13 8 Chapter 6 Financial Functions