Formulas and Functions

Table Of Contents

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 YIELDMAT function is used to determine the eective annual yield of the

hypothetical security described by the values listed. The security pays interest only at maturity.

The function evaluates to 6.565%.

settle maturity issue annual-rate price days-basis

=YIELDMAT (B2,

C2, D2, E2, F2,

G2)

05/01/2009 06/30/2015 12/14/2008 0.065 99.002 0