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Line 1: − <div id="6SpaceContent" class="zcontent" align="left">+ − + + + + − where,+ − '''SettlementDate '''- represents the Treasury bill's settlement date.+ + − + + + + + + − '''Discount '''- represents the Treasury bill's discount rate+ − </div>+ − ---- − <div id="1SpaceContent" class="zcontent" align="left"> − It returns the bond-equivalent yield for a Treasury bill.+ − '''Formula''' :- − − TBILLEQ = (365 x Discount)/(360-(Discount x N)) − − where, − − N - Number of days between settlement an maturity date. − − </div> − ---- − <div id="7SpaceContent" class="zcontent" align="left"> − − If SettlementDate > MaturityDate, TBILLEQ returns the #ERROR. − − If Discount <= 0, it returns the #ERROR. − − </div> − ---- − <div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left"> − − TBILLEQ − − </div></div> − ---- − <div id="8SpaceContent" class="zcontent" align="left"> − − Lets see an example in (Column1, Row1) − − <nowiki>=TBILLEQ(DATE(2008,1,1),DATE(2008,2,20),"5.85%")</nowiki> − − TBILLEQ returns 0.059798. − − Consider an another example − − <nowiki>=TBILLEQ(DATE(DATE(2007/4/1),DATE(2008,5,1),"-4%")</nowiki> − − It returns #ERROR(discount=-4%). − − </div> − ---- − <div id="10SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Syntax </div><div class="ZEditBox"><center></center></div></div> − ---- − <div id="4SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Remarks </div></div> − ---- − <div id="3SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Examples </div></div> − ---- − <div id="11SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Description </div></div> − ---- − | class=" " |+ − | Column1 − | Column2 − | Column3 − | Column4 − |- class="odd" − | class=" " | Row1 − − | class=" " | − | class=" " | − | class=" " | − |- class="even" − | class=" " | Row2 − | class="sshl_f SelectTD ChangeBGColor SelectTD" | − <div id="2Space_Handle" class="zhandles" title="Click and Drag to resize CALCI Column/Row/Cell. It is EZ!"></div><div id="2Space_Copy" class="zhandles" title="Click and Drag over to AutoFill other cells."></div><div id="2Space_Drag" class="zhandles" title="Click and Drag to Move/Copy Area.">[[Image:copy-cube.gif]] </div> − | class=" " | + − | Row3+ − − | class=" " | + − | Row4+ − − | class=" " | + − + − | − | class=" " | − | class=" " | − | class=" " | − |- class="even" − | Row6 − | class=" " | − | class=" " | − + − ----+ + + + + + + + + +
Manuals/calci/TBILLEQ (view source)
Revision as of 21:46, 28 February 2014
, 21:46, 28 February 2014no edit summary
=TBILLEQ(SettlementDate, MaturityDate, Discount)=
'''TBILLEQ'''(SettlementDate, MaturityDate, Discount)
where,
*<math>SettlementDate</math> is the Treasury Bill's settlement date (a date when the Treasury Bill is purchased)
*<math>MaturityDate</math> is the Treasury Bill's maturity date (a date when the Treasury Bill expires)
*<math>Discount</math> is the Treasury Bill's discount rate.
TBILLEQ() calculates the bond equivalent yield for a Treasury Bill.
== Description ==
TBILLEQ(SettlementDate, MaturityDate, Discount)
'''MaturityDate''' - represents the Treasury bill's maturity date.
*<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.
*<math>MaturityDate</math> should not be more than one year than that of <math>SettlementDate</math>. Else, Calci displays #N/A error message.
*If <math>Discount</math> <0, Calci displays #N/A error message.
*Formula:
If 'N' is number of days from 'Settlement' to 'Maturity', then TBILLEQ is calculated as -
<math>TBILLEQ = \frac{(365 * Discount)}{(360 - (Discount * N))}
== Examples ==
Consider the following example that shows the use of TBILLEQ function:
<div id="2SpaceContent" class="zcontent" align="left">
<div id="2SpaceContent" class="zcontent" align="left">
{| id="TABLE3" class="SpreadSheet blue"
{| id="TABLE3" class="SpreadSheet blue"
|- class="even"
|- class="even"
| class="sshl_f" | 01/01/2010
| class="sshl_f" | 0.059798
| class=" " |
| class=" " |
| class=" " |
| class=" " |
|- class="odd"
|- class="odd"
| class="sshl_f" | 11/20/2010
| class="sshl_f " |
| class=" " |
| class=" " |
| class=" " |
| class=" " |
|- class="even"
|- class="even"
| class="sshl_f" | 5.85%
| class="sshl_f " |
| class=" " |
| class=" " |
| class=" " |
| class=" " |
|- class="odd"
|- class="odd"
| class=" " | Row5
| class="sshl_f" |
| class=" " |
| class=" " |
| class=" " |
| class=" " |
|}
|}
<div align="left">[[Image:calci1.gif]]</div></div>
=TBILLEQ(A1,A2,A3) : Calculates the bond equivalent yield for the Treasury Bill with values in the range A1 to A3. <br />Displays ''6.26%'' as a result.
=TBILLEQ(DATE(2013,10,20),DATE(2014,6,20),9%) : Calculates the bond equivalent yield for the Treasury Bill with the mentioned values. Displays ''9.72%'' as a result.
== See Also ==
*[[Manuals/calci/TBILLPRICE | TBILLPRICE]]
*[[Manuals/calci/TBILLYIELD | TBILLYIELD]]
== References ==
*[http://en.wikipedia.org/wiki/Treasury_bill#Treasury_bill Treasury Bill]