Difference between revisions of "Manuals/calci/DISC"
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| − | =DISC(SettlementDate, MaturityDate, Price, | + | <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> | + | *<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() | ||
== Description == | == Description == | ||
| − | DISC(SettlementDate, MaturityDate, Price, | + | 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> | + | *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: | ||
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Maturity', the DISC is calculated as - | Maturity', the DISC is calculated as - | ||
| − | DISC = <math>\frac{ | + | DISC = <math>\frac{(Redemption-Price)}{Redemption} X \frac{B}{DIM}</math> |
== Examples == | == Examples == | ||
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=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 == | ||
| Line 91: | Line 93: | ||
*[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 ]] | ||
Latest revision as of 14:51, 15 November 2018
DISC (SettlementDate,MaturityDate,Price,RedemptionValue,Basis)
where,
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle SettlementDate} is the security's settlement date (a date when coupon or a bond is purchased)
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle MaturityDate} is the security's maturity date (a date when coupon or a bond expires)
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Price} is the security's price per $100 face value
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle RedemptionValue} is the amount to be received at maturity of a bond
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis}
is the type of day count basis to use
- DISC(), returns the discount rate for a security.
Description
DISC(SettlementDate, MaturityDate, Price, RedemptionValue, Basis)
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle SettlementDate} and Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle MaturityDate} should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
- If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle SettlementDate} >= Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle MaturityDate} , Calci displays #N/A error message.
- If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Price} <=0 or Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle RedemptionValue} <=0, Calci displays #N/A error message.
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/365 |
- If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is other than 0 to 4, Calci displays #N/A error message.
- Formula:
If 'B' is number of days in a year, and 'DIM' is number of days from 'Settlement' to ' Maturity', the DISC is calculated as -
DISC = Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle \frac{(Redemption-Price)}{Redemption} X \frac{B}{DIM}}
Examples
Consider the following example that shows the use of DISC function:
| 06/09/2010 | ||
| 11/19/2010 | ||
| 97.975 | ||
| 100 | ||
| 1 | ||
=DISC(A1,A2,A3,A4,A5) displays 0.045345092024540005 as a result.
Related Videos
See Also
References