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Line 1: − + + + + + + + − <font color="#000000"><font face="Arial, sans-serif"><font size="2">'''Where 'settle''''</font></font><font face="Arial, sans-serif"><font size="2"> is the security's settlement date, 'M' is the security's maturity date, 'I' is the amount invested in the security, 'D' is the security's discount rate and 'basis' is the type of day count basis to use.</font></font></font>+ − + − ----+ − + − ----+ − + − * <font color="#000000"><font face="Arial, sans-serif"><font size="2">RECEIVED shows the error value, when 'settle', 'M' or 'I' is not a valid date or 'I' or 'D' < 0.</font></font></font>+ + + + + + + + + + + + + + − + + + + − * <font color="#000000"><font face="Arial, sans-serif"><font size="2">RECEIVED computes the error value when settle ≥ M</font></font></font>+ − * <font color="#000000"><font face="Arial, sans-serif"><font size="2">RECEIVED is calculated as follows: </font></font></font> − <font color="#000000"></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">where:</font></font></font>+ − + − <font color="#000000"><font face="Arial, sans-serif"><font size="2">DIM = number of days from issue to maturity.</font></font></font>+ + + + + − <br /><br />+ + + + − </div>+ − + − <div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">+ + − RECEIVED+ + + + − </div></div>+ − ----+ − <div id="8SpaceContent" class="zcontent" align="left"> + + − <font color="#000000"><font face="Arial, sans-serif"><font size="2">Lets see an example,</font></font></font>+ + + + + − <font color="#000000"><font face="Arial, sans-serif"><font size="2">RECEIVED(settle, M, I, D, basis)</font></font></font>+ + − <font color="#000000"><font face="Arial, sans-serif"><font size="2">'''B'''</font></font></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">04-24-2010</font></font></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">07-24-2010</font></font></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">1550000</font></font></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">4.65%</font></font></font>+ − <font color="#000000"><font face="Arial, sans-serif"><font size="2">2</font></font></font>+ + − <font color="#000000"><font face="Tahoma, sans-serif"><font size="1"><nowiki>=RECEIVED(B2,B3,B4,B5,B6) is 1568230.6817</nowiki></font></font></font> − </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> − ---- − <div id="2SpaceContent" class="zcontent" align="left"> − {| id="TABLE3" class="SpreadSheet blue"+ − |- class="even" − | class=" " | − | Column1 − | class=" " | Column2 − | Column3 − | Column4 − |- class="odd" − | class=" " | Row1 − | class="sshl_f" | 04-24-2010 − | class="sshl_f" | 1568230.6817 − | class=" " | − | class=" sshl_f " | − |- class="even" − | class=" " | Row2 − | class="sshl_f" | 07-24-2010 − | class=" sshl_f " | − | class=" SelectTD SelectTD" | − <div id="2Space_Handle" title="Click and Drag to resize CALCI Column/Row/Cell. It is EZ!"></div><div id="2Space_Copy" title="Click and Drag over to AutoFill other cells."></div> − | class=" " | − |- class="odd" − | Row3 − | class="sshl_f" | 1550000 − | class=" " | − | class=" " | − | class=" " | − |- class="even" − | Row4 − | class="sshl_f" | 4.65% − | class=" " | − | class=" " | − | class=" " | − |- class="odd" − | class=" " | Row5 − | class="sshl_f" | 2 − | class=" " | − | class=" " | − | class=" " | − |- class="even" − | Row6 − | class=" sshl_f " | − | class=" " | − | class=" " | − | class=" " | − |} − <div align="left">[[Image:calci1.gif]]</div></div>+ − ----
no edit summary
<div id="6SpaceContent" class="zcontent" align="left"> <font color="#000000">'''<font face="Arial, sans-serif"><font size="2">RECEIVED(settle, M, I, D, basis)</font></font>'''</font>
<div style="font-size:30px">'''RECEIVED (SettlementDate,MaturityDate,Investment,DiscountRate,Basis)'''</div><br/>
*where, <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>Investment</math> is the amount invested in security
*<math>DiscountRate</math> is the security's discount rate
*<math>Basis</math> is the type of day count basis to use
**RECEIVED(), returns the amount received at maturity for a fully invested security.
== Description ==
</div>
*<math>SettlementDate</math> and <math>MaturityDate</math> dates 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.
<div id="1SpaceContent" class="zcontent" align="left"> <font color="#000000"><font face="Arial, sans-serif"><font size="2">This function computes the amount received at maturity for a fully invested security.</font></font></font></div>
*If <math>Investment</math> <=0 or <math>DiscountRate</math> <=0, Calci displays #N/A error message.
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
<div id="7SpaceContent" class="zcontent" align="left">
Below table shows the use of <math>Basis</math> values:
{| class="wikitable"
|-
! Basis !! Description
|-
| 0 || US (NASD) 30/360
|-
| 1 || Actual/actual
|-
| 2 || Actual/360
|-
| 3 || Actual/365
|-
| 4 || European 30/365
|}
* <font color="#000000"><font face="Arial, sans-serif"><font size="2">Basis must between 0 and 4. </font></font></font>
*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
*Formula:
If 'B' is number of days in a year, and 'D' is number of days from 'Settlement' to
Maturity', the RECEIVED is calculated as -
<math>RECEIVED = \frac{Investment}{1-(Discount X \frac{D}{B})}</math>
== Examples ==
Consider the following example that shows the use of RECEIVED function:
<font color="#000000"><font face="Arial, sans-serif"><font size="2">B = number of days in a year, depending on the year basis.</font></font></font>
<div id="2SpaceContent" class="zcontent" align="left">
{| id="TABLE3" class="SpreadSheet blue"
|- class="even"
| class=" " | 4/24/2010
| class=" " |
| class=" " | 1/1/2013
|- class="odd"
| class="sshl_f" | 7/24/2010
| class=" " |
| class=" " | 1/1/2014
|- class="even"
----
| class=" " | 1550000
| class=" " |
| class=" " | 50000
|- class="odd"
| class=" " | 4.65%
| class=" " |
| class=" " | 6%
|- class="even"
| class=" " | 2
| class=" " |
| class=" " |
|- class="odd"
| class=" " |
| class=" " |
| class=" " |
|}
=RECEIVED(A1,A2,A3,A4,A5) displays ''1568435.6540840461'' as a result.
=RECEIVED(C1,C2,C3,C4) displays ''53191.48936170212'' as a result.
==Related Videos==
{{#ev:youtube|I7FDx4DPapw|280|center|BOND AND INTEREST RATE}}
== See Also ==
*[[Manuals/calci/INTRATE | INTRATE]]
== References ==
*[http://en.wikipedia.org/wiki/Bond_(finance)#Maturity Maturity]
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
*[[Z_API_Functions | List of Main Z Functions]]
*[[ Z3 | Z3 home ]]