Formulas and Functions

Chapter 6 Financial Functions 99
Function Description
“PV” (page 141) The PV function returns the present value of
an investment or annuity based on a series
of regular periodic cash ows (payments of a
constant amount and all cash ows at constant
intervals) and a xed interest rate.
“RATE” (page 14 4) The RATE function returns the interest rate of an
investment, loan, or annuity based on a series
of regular periodic cash ows (payments of a
constant amount and all cash ows at constant
intervals) and a xed interest rate.
“RECEIVED” (page 14 6) The RECEIVED function returns the maturity value
for a security that pays interest only at maturity.
“SLN” (page 147 ) The SLN function returns the amount of
depreciation of an asset for a single period using
the straight-line method.
“SYD” (page 148) The SYD function returns the amount of
depreciation of an asset for a specied period
using the sum-of-the-years-digits method.
“VDB” (page 149) The VDB function returns the amount of
depreciation of an asset over a chosen time
interval, based on a specied depreciation rate.
“YIELD” (page 150) The YIELD function returns the eective annual
interest rate for a security that pays regular
periodic interest.
“YIELDDISC” (page 15 2 ) The YIELDDISC function returns the eective
annual interest rate for a security that is sold at a
discount to redemption value and pays
no interest.
“YIELDMAT” (page 15 3 ) The YIELDMAT function returns the eective
annual interest rate for a security that pays
interest only at maturity.
ACCRINT
The ACCRINT function calculates the accrued interest added to the purchase price of a
security and paid to the seller when the security pays periodic interest.
ACCRINT(issue, rst, settle, annual-rate, par, frequency, days-basis)
 issue: The date the security was originally issued. issue is a date/time value and
must be the earliest date given.
 rst:The date of the rst interest payment. rst is a date/time value and must be
after issue.