Formulas and Functions

Chapter 6 Financial Functions 151
 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
In this example, the YIELD function is used to determine the annual yield of the hypothetical security
described by the values listed. The security pays periodic interest.
The function evaluates to approximately 5.25%.
settle maturity annual-rate price redemption frequency days-basis
=YIELD (B2,
C2, D2, E2, F2,
G2, H2)
05/01/2009 06/30/2015 0.065 106.50 100 2 0
Related Topics
For related functions and additional information, see:
“PRICE” on page 137
“YIELDDISC” on page 152
“YIELDMAT” on page 153
“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