Difference between revisions of "Manuals/calci/INTRATE"
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| − | =INTRATE(SettlementDate, MaturityDate, Investment, | + | <div style="font-size:30px">'''INTRATE (SettlementDate,MaturityDate,Investment,RedemptionValue,Basis)'''</div><br/> |
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*where, <math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased) | *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>MaturityDate</math> is the security's maturity date (a date when coupon or a bond expires) | ||
*<math>Investment</math> is the amount invested in the security or a bond | *<math>Investment</math> is the amount invested in the security or a bond | ||
| − | *<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 | ||
| − | + | **INTRATE(), returns the interest rate for a fully invested security. | |
| − | INTRATE() | ||
== Description == | == Description == | ||
| − | INTRATE(SettlementDate, MaturityDate, Investment, | + | INTRATE(SettlementDate, MaturityDate, Investment,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>Investment</math> <=0 or <math> | + | *If <math>Investment</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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*[http://en.wikipedia.org/wiki/Interest_rate_derivative Interest Rate Derivative] | *[http://en.wikipedia.org/wiki/Interest_rate_derivative Interest Rate Derivative] | ||
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis] | *[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis] | ||
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| + | *[[Z_API_Functions | List of Main Z Functions]] | ||
| + | |||
| + | *[[ Z3 | Z3 home ]] | ||
Latest revision as of 16:18, 22 August 2018
INTRATE (SettlementDate,MaturityDate,Investment,RedemptionValue,Basis)
- where, 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 Investment} is the amount invested in the security or 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 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
- INTRATE(), returns the interest rate for a fully invested security.
is the security's settlement date (a date when coupon or a bond is purchased)Description
INTRATE(SettlementDate, MaturityDate, Investment,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 Investment} <=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 'D' is number of days from 'settlement' to maturity', then INTRATE is calculated as -
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 INTRATE = \frac{(redemption-investment)}{investment} X \frac{B}{D}}
Examples
Consider the following example that shows the use of INTRATE function:
| 11/1/2010 | ||
| 2/20/2011 | 2/2/2014 | |
| 500000 | 7000 | |
| 800000 | 9000 | |
| 4 | 1 | |
=INTRATE(A1,A2,A3,A4,A5) displays 1.981651376146789 as a result. =INTRATE(DATE(2013,1,1),B2,B3,B4,B5) displays 0.2622154311211943 as a result.
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References