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=PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)=
=PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)=
*where 'settlement' is security's settlement date (a date when coupon or a bond is purchased),
*where <math>settlement</math> is security's settlement date (a date when coupon or a bond is purchased),
*'maturity' is security's maturity date (a date when coupon or a bond expires),
*<math>maturity</math> is security's maturity date (a date when coupon or a bond expires),
*'rate' is security's annual coupon rate,
*<math>rate</math> is security's annual coupon rate,
*'yield' is security's annual yield,
*<math>yield</math> is security's annual yield,
*'redemption' is security's redemption value per $100 face value,
*<math>redemption</math> is security's redemption value per $100 face value,
*'frequency' is the number of coupon payments per year, and
*<math>frequency</math> is the number of coupon payments per year, and
*'basis' is the type of day count basis to use.
*<math>basis</math> is the type of day count basis to use.
PRICE() calculates the price per $100 face value of security that pays periodic interest.
PRICE() calculates the price per $100 face value of security that pays periodic interest.
*The function returns the price per $100 face value of security that pays periodic interest.
*The function returns the price per $100 face value of security that pays periodic interest.
*Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
*<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 settlement date ≥ maturity date, Calci displays #N/A error message.
*If <math>settlement</math> date ≥ <math>maturity</math> date, Calci displays #N/A error message.
*'rate' and 'yield' values must be greater than or equal to zero, else 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.
*'redemption' value must be greater than zero, else Calci displays #N/A error message.
*<math>redemption</math> value must be greater than zero, else Calci displays #N/A error message.
*The values for 'frequency' should be 1,2 or 4.
*The values for <math>frequency</math> should be 1,2 or 4.
For Annual payment, frequency = 1,
For Annual payment, frequency = 1,
For Quarterly payment, frequency = 4.
For Quarterly payment, frequency = 4.
*'basis' 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 'basis' values:
Below table shows the use of 'basis' values:
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*If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
*If <math>basis</math> value is other than 0 to 4, Calci displays #N/A error message.
== Examples ==
== Examples ==