Difference between revisions of "Manuals/calci/YIELDDISC"
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| − | =YIELDDISC( | + | <div style="font-size:30px">'''YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)'''</div><br/> |
| − | *where <math> | + | *where <math>Settlement</math> is security's settlement date (a date when coupon or a bond is purchased), |
| − | *<math> | + | *<math>Maturity</math> is security's maturity date (a date when coupon or a bond expires), |
| − | *<math> | + | *<math>Price</math> is the price per $100 face value, |
| − | *<math> | + | *<math>Redemption</math> is security's redemption value per $100 face value, |
| − | *<math> | + | *<math>Basis</math> is the type of day count basis to use. |
| − | + | **YIELDDISC(), returns the annual yield for a discounted security; for example, a Treasury bill. | |
| − | YIELDDISC() | ||
== Description == | == Description == | ||
| − | YIELDDISC( | + | YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) |
*YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return. | *YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return. | ||
| Line 19: | Line 18: | ||
<math>Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}</math> | <math>Discount Yield = \frac{(par value - price)}{par value} * \frac{360}{days to maturity}</math> | ||
| − | *<math> | + | *<math>Settlement</math> and <math>Maturity</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> | + | *If <math>Settlement</math> date = <math>Maturity</math> date, Calci displays #N/A error message. |
| − | *<math> | + | *<math>Price</math> and <math>Redemption</math> values must be greater than zero, else Calci displays #N/A error message. |
| − | *<math> | + | *<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0. |
| − | Below table shows the use of <math> | + | Below table shows the use of <math>Basis</math> values: |
{| class="wikitable" | {| class="wikitable" | ||
| Line 40: | Line 39: | ||
|} | |} | ||
| − | *If <math> | + | *If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message. |
== Examples == | == Examples == | ||
| − | YIELDDISC( | + | YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) function with inputs in order is calculated as follows: |
<div id="2SpaceContent" class="zcontent" align="left"> | <div id="2SpaceContent" class="zcontent" align="left"> | ||
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|- class="odd" | |- class="odd" | ||
| − | | class="sshl_f" | | + | | class="sshl_f" | 100 |
| class="sshl_f" | | | class="sshl_f" | | ||
| Line 73: | Line 72: | ||
=YIELDDISC(A1,A2,A3,A4,A5) : Calculates the discount yield Value with the inputs in the range A1 to A5. Returns '''33.3%''' as a result. | =YIELDDISC(A1,A2,A3,A4,A5) : Calculates the discount yield Value with the inputs in the range A1 to A5. Returns '''33.3%''' as a result. | ||
=YIELDDISC(DATE(2007,1,1), DATE(2008,2,20), 85.12, 100) : Calculates the discount yield Value with the inputs. Returns '''15.39%''' as a result. | =YIELDDISC(DATE(2007,1,1), DATE(2008,2,20), 85.12, 100) : Calculates the discount yield Value with the inputs. Returns '''15.39%''' as a result. | ||
| + | |||
| + | ==Related Videos== | ||
| + | |||
| + | {{#ev:youtube|v=RhNtIcbpfXA|280|center|YIELDDISC}} | ||
== See Also == | == See Also == | ||
| Line 84: | Line 87: | ||
*[http://en.wikipedia.org/wiki/Discounting Discount Yield] | *[http://en.wikipedia.org/wiki/Discounting Discount Yield] | ||
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention] | *[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention] | ||
| + | |||
| + | |||
| + | |||
| + | |||
| + | *[[Z_API_Functions | List of Main Z Functions]] | ||
| + | |||
| + | *[[ Z3 | Z3 home ]] | ||
Latest revision as of 15:06, 16 November 2018
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)
- where is security's settlement date (a date when coupon or a bond is purchased),
- is security's maturity date (a date when coupon or a bond expires),
- is the price per $100 face value,
- is security's redemption value per $100 face value,
- is the type of day count basis to use.
- YIELDDISC(), returns the annual yield for a discounted security; for example, a Treasury bill.
is security's settlement date (a date when coupon or a bond is purchased),
is security's maturity date (a date when coupon or a bond expires),
is the price per $100 face value,
is security's redemption value per $100 face value,
is the type of day count basis to use.
Description
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis)
- YIELDDISC referred to as 'Discount Yield' is the measure of security's percentage return.
Formula:-
- and 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 date = date, Calci displays #N/A error message.
- and values must be greater than zero, else Calci displays #N/A error message.
- 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 30/360 |
- 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.
Examples
YIELDDISC (Settlement,Maturity,Price,Redemption,Basis) function with inputs in order is calculated as follows:
| 1/1/2008 | |
| 20/2/2008 | |
| 95.58 | |
| 100 | |
| 2 |
=YIELDDISC(A1,A2,A3,A4,A5) : Calculates the discount yield Value with the inputs in the range A1 to A5. Returns 33.3% as a result. =YIELDDISC(DATE(2007,1,1), DATE(2008,2,20), 85.12, 100) : Calculates the discount yield Value with the inputs. Returns 15.39% as a result.
Related Videos
See Also
References