Difference between revisions of "Manuals/calci/PRICE"

From ZCubes Wiki
Jump to navigation Jump to search
(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> '''PRICE'''(SettlementDate, MaturityDate, Rate,Yield, Redemption, Frequency, Basis) where, '''SettlementDate'''...")
 
 
(21 intermediate revisions by 3 users not shown)
Line 1: Line 1:
−
<div id="6SpaceContent" class="zcontent" align="left">
+
<div style="font-size:30px">'''PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)'''</div><br/>
 +
*where <math>Settlement</math> is security's settlement date (a date when coupon or a bond is purchased),
 +
*<math>MaturityDate</math> is security's maturity date (a date when coupon or a bond expires),
 +
*<math>Rate</math> is security's annual coupon rate,
 +
*<math>Yield</math> is security's annual yield,
 +
*<math>RedemptionValue</math> is security's redemption value per &#36;100 face value,
 +
*<math>Frequency</math> is the number of coupon payments per year, and
 +
*<math>Basis</math> is the type of day count basis to use.
 +
**PRICE(), returns the price per $100 face value of a security that pays periodic interest.
  
−
'''PRICE'''(SettlementDate, MaturityDate, Rate,Yield, Redemption, Frequency, Basis)
+
== Description ==
  
−
where,
+
PRICE(Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)
  
−
'''SettlementDate''' - represents the settlement date.
+
*The function returns the price per &#36;100 face value of security that pays periodic interest.
 +
*<math>settlement</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>Settlement</math> date ≥ <math>MaturityDate</math> date, Calci displays #N/A error message.
 +
*<math>Rate</math> and <math>yield</math> values must be greater than or equal to zero, else Calci displays #N/A error message.
 +
*<math>RedemptionValue</math> value must be greater than zero, else Calci displays #N/A error message.
 +
*The values for <math>Frequency</math> should be 1,2 or 4.  
 +
For Annual payment, <math>Frequency</math> = 1,
  
−
'''MaturityDate''' - represents the maturity date.
+
For Semi-annual payment, <math>Frequency</math> = 2,
  
−
'''Rate''' - the annual coupon rate.
+
For Quarterly payment, <math>Frequency</math> = 4.
  
−
'''Yield''' - the annual yield.
+
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
 +
Below table shows the use of <math>Basis</math> values:
  
−
Redemption - represents the redemption value per $100 face value.
+
{| class="wikitable"
 +
|-
 +
! Basis !! Description
 +
|-
 +
| 0 || US (NASD) 30/360
 +
|-
 +
| 1 || Actual/actual
 +
|-
 +
| 2 || Actual/360
 +
|-
 +
| 3 || Actual/365
 +
|-
 +
| 4 || European 30/365
 +
|}
  
−
'''Frequency''' - the number of coupon payment per year.
+
*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
  
−
'''Payments              frequency'''
+
== Examples ==
  
−
annual                     1
+
PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)  function with inputs in order is calculated as follows:
  
−
semiannual               2
+
<div id="2SpaceContent" class="zcontent" align="left">
  
−
quarterly                  4
+
{| id="TABLE3" class="SpreadSheet blue"
 +
|- class="even"
 +
| class="sshl_f" | 2/2/2008
 +
| class="sshl_f" |
  
−
'''Basis''' - type of day count basis
+
|- class="odd"
 +
| class="sshl_f" | 11/2/2016
 +
| class="sshl_f" |
  
−
'''Basis              Day count basis'''
+
|- class="even"
 +
| class="sshl_f" | 5%
 +
| class="sshl_f" |
  
−
0 or omitted    US 30/360
+
|- class="odd"
 +
| class="sshl_f" | 8%
 +
| class="sshl_f" |
  
−
1                     Actual/actual
+
|- class="even"
 +
| class="sshl_f" | 100
 +
| class="sshl_f" |
  
−
2                     Actual/360
+
|- class="odd"
 +
| class="sshl_f" | 2
 +
| class="sshl_f" |
  
−
3                     Actual/365
+
|- class="even"
−
 
+
| class="sshl_f" | 0
−
4                     European 30/360
+
| class="sshl_f" |
−
 
+
|}
−
</div>
 
−
----
 
−
<div id="1SpaceContent" class="zcontent" align="left">
 
−
 
 
−
It returns the price per $100 face value that pays periodic interest.
 
−
 
 
−
'''Formula''':-
 
−
 
 
−
PRICE =
 
  
−
</div>
+
=PRICE(A1,A2,A3,A4,A5,A6,A7) : Calculates the Price Value with the inputs in the range A1 to A7. Returns ''81.36538958112115''.
−
----
 
−
<div id="7SpaceContent" class="zcontent" align="left">
 
  
−
If Basis &lt; 0 or Basis &gt; 4 , PRICE returns the #ERROR.
+
==Related Videos==
  
−
If Yield &lt; 0 or Rate &lt; 0, it returns the #ERROR.
+
{{#ev:youtube|tJLR3se4Pa4|280|center|PRICE}}
  
−
If SettlementDate &gt;= MaturityDate, PRICE returns #ERRROR.
+
== See Also ==
  
−
If Frequency other than 1 , 2 or 4 returns the #ERROR.
+
*[[Manuals/calci/PRICEDISC | PRICEDISC]]
 +
*[[Manuals/calci/PRICEMAT | PRICEMAT]]
  
−
If Redemption &lt;= 0, PRICE returns the #ERROR.
+
== References ==
  
−
</div>
+
*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
−
----
+
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]
−
<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
 
  
−
PRICE
 
  
−
</div></div>
 
−
----
 
−
<div id="8SpaceContent" class="zcontent" align="left">
 
  
−
Lets see an example in (Column2, Row2)
+
*[[Z_API_Functions | List of Main Z Functions]]
−
 
 
−
<nowiki>=PRICE(R1C1, R2C1, R3C1, R4C1, R5C1,R6C1,R1C2)</nowiki>
 
−
 
 
−
PRICE returns 97.852841.
 
−
 
 
−
Consider another example
 
−
 
 
−
<nowiki>=PRICE(date(1/1/2007),date(2/2/2008), "5%", "4%",0,3)</nowiki>
 
−
 
 
−
It returns #ERROR(frequency =0).
 
−
 
 
−
</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="sshl_f" | Column2
 
−
| Column3
 
−
| Column4
 
−
|- class="odd"
 
−
| class=" " | Row1
 
−
| class=" " | 2/2/2008
 
−
| class="sshl_f " | 1
 
−
|
 
−
|
 
−
|- class="even"
 
−
| class="  " | Row2
 
−
| class=" " | 11/2/2008
 
−
| class="sshl_f" | 97.852841
 
−
|
 
−
|
 
−
|- class="odd"
 
−
| Row3
 
−
| class=" " | 5%
 
−
| class=" 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="even"
 
−
| Row4
 
−
| class=" " | 8%
 
−
|
 
−
|
 
−
|
 
−
|- class="odd"
 
−
| class=" " | Row5
 
−
| class=" " | 100
 
−
|
 
−
|
 
−
|
 
−
|- class="even"
 
−
| Row6
 
−
| class=" " | 2
 
−
|
 
−
|
 
−
|
 
−
|}
 
  
−
<div align="left">[[Image:calci1.gif]]</div></div>
+
*[[ Z3 |  Z3 home ]]
−
----
 

Latest revision as of 17:29, 22 August 2018

PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,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 security's annual coupon rate,
  • is security's annual yield,
  • is security's redemption value per $100 face value,
  • is the number of coupon payments per year, and
  • is the type of day count basis to use.
    • PRICE(), returns the price per $100 face value of a security that pays periodic interest.

Description

PRICE(Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)

  • The function returns the price per $100 face value of security that pays periodic interest.
  • 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 or equal to zero, else Calci displays #N/A error message.
  • value must be greater than zero, else Calci displays #N/A error message.
  • The values for should be 1,2 or 4.

For Annual payment, = 1,

For Semi-annual payment, 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 Frequency} = 2,

For Quarterly payment, 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 Frequency} = 4.

  • 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.

Examples

PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis) function with inputs in order is calculated as follows:

2/2/2008
11/2/2016
5%
8%
100
2
0 
=PRICE(A1,A2,A3,A4,A5,A6,A7) : Calculates the Price Value with the inputs in the range A1 to A7. Returns 81.36538958112115.

Related Videos

PRICE

See Also

References


Retrieved from "http://wiki.zcubes.com/index.php?title=Manuals/calci/PRICE&oldid=211186"