Formulas and Functions

Chapter 6 Financial Functions 153
Related Topics
For related functions and additional information, see:
“PRICEDISC” on page 13 8
“YIELD” on page 150
“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
YIELDMAT
The YIELDMAT function returns the eective annual interest rate for a security that
only pays interest at maturity.
YIELDMAT(settle, maturity, issue, annual-rate, price, 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.
 issue: The date the security was originally issued. issue is a date/time value and
must be the earliest date given.
 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%).
 price: The cost of the security per $100 of par value. price is a number value.
 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.