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=DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)=
<div style="font-size:30px">'''DISC (SettlementDate,MaturityDate,Price,RedemptionValue,Basis)'''</div><br/>
where,
where,
*<math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased)
*<math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased)
*<math>MaturityDate</math> is the security's maturity date (a date when coupon or a bond expires)
*<math>MaturityDate</math> is the security's maturity date (a date when coupon or a bond expires)
*<math>Price</math> is the security's price per $100 face value
*<math>Price</math> is the security's price per $100 face value
*<math>Redemption</math> is the amount to be received at maturity of a bond
*<math>RedemptionValue</math> is the amount to be received at maturity of a bond
*<math>Basis</math> is the type of day count basis to use
*<math>Basis</math> is the type of day count basis to use
**DISC(), returns the discount rate for a security.
DISC() calculates the discount rate for a security.
== Description ==
== Description ==
DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)
DISC(SettlementDate, MaturityDate, Price, RedemptionValue, Basis)
*<math>SettlementDate</math> and <math>MaturityDate</math> should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
*<math>SettlementDate</math> and <math>MaturityDate</math> should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
*If <math>SettlementDate</math> >= <math>MaturityDate</math>, Calci displays #N/A error message.
*If <math>SettlementDate</math> >= <math>MaturityDate</math>, Calci displays #N/A error message.
*If <math>Price</math> <=0 or <math>Redemption</math> <=0, Calci displays #N/A error message.
*If <math>Price</math> <=0 or <math>RedemptionValue</math> <=0, Calci displays #N/A error message.
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of <math>Basis</math> values:
Below table shows the use of <math>Basis</math> values:
=DISC(A1,A2,A3,A4,A5) displays ''0.045345092024540005'' as a result.
=DISC(A1,A2,A3,A4,A5) displays ''0.045345092024540005'' as a result.
==Related Videos==
{{#ev:youtube|v=3dP-8EFalfU|280|center|DISC}}
== See Also ==
== See Also ==
*[http://en.wikipedia.org/wiki/Annual_effective_discount_rate Annual Discount Rate]
*[http://en.wikipedia.org/wiki/Annual_effective_discount_rate Annual Discount Rate]
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
*[[Z_API_Functions | List of Main Z Functions]]
*[[ Z3 | Z3 home ]]