ZCubes Wiki

Changes

Manuals/calci/TBILLEQ (view source)

Revision as of 21:46, 28 February 2014

740 bytes removed ,  21:46, 28 February 2014
no edit summary
Line 1: Line 1: −
<div id="6SpaceContent" class="zcontent" align="left">
+
=TBILLEQ(SettlementDate, MaturityDate, Discount)=
   −
'''TBILLEQ'''(SettlementDate, MaturityDate, Discount)
+
where,
 +
*<math>SettlementDate</math> is the Treasury Bill's settlement date (a date when the Treasury Bill is purchased)
 +
*<math>MaturityDate</math> is the Treasury Bill's maturity date (a date when the Treasury Bill expires)
 +
*<math>Discount</math> is the Treasury Bill's discount rate.
   −
where,
+
TBILLEQ() calculates the bond equivalent yield for a Treasury Bill.
   −
'''SettlementDate '''- represents the Treasury bill's settlement date.
+
== Description ==
 +
TBILLEQ(SettlementDate, MaturityDate, Discount)
   −
'''MaturityDate''' - represents the Treasury bill's maturity date.
+
*<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> &gt;= <math>MaturityDate</math>, Calci displays #N/A error message.
 +
*<math>MaturityDate</math> should not be more than one year than that of <math>SettlementDate</math>. Else, Calci displays #N/A error message.
 +
*If <math>Discount</math> &lt;0, Calci displays #N/A error message.
 +
*Formula:
 +
If 'N' is number of days from 'Settlement' to 'Maturity', then TBILLEQ is calculated as -
   −
'''Discount '''- represents the Treasury bill's discount rate
+
<math>TBILLEQ = \frac{(365 * Discount)}{(360 - (Discount * N))}
   −
</div>
+
== Examples ==
−
----
  −
<div id="1SpaceContent" class="zcontent" align="left">
     −
It returns the bond-equivalent yield for a Treasury bill.
+
Consider the following example that shows the use of TBILLEQ function:
   −
'''Formula''' :-
  −
  −
TBILLEQ = (365 x Discount)/(360-(Discount x N))
  −
  −
where,
  −
  −
N - Number of days between settlement an maturity date.
  −
  −
</div>
  −
----
  −
<div id="7SpaceContent" class="zcontent" align="left">
  −
  −
If SettlementDate &gt; MaturityDate, TBILLEQ returns the #ERROR.
  −
  −
If Discount &lt;= 0, it returns the #ERROR.
  −
  −
</div>
  −
----
  −
<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
  −
  −
TBILLEQ
  −
  −
</div></div>
  −
----
  −
<div id="8SpaceContent" class="zcontent" align="left">
  −
  −
Lets see an example in (Column1, Row1)
  −
  −
<nowiki>=TBILLEQ(DATE(2008,1,1),DATE(2008,2,20),"5.85%")</nowiki>
  −
  −
TBILLEQ returns 0.059798.
  −
  −
Consider an another example
  −
  −
<nowiki>=TBILLEQ(DATE(DATE(2007/4/1),DATE(2008,5,1),"-4%")</nowiki>
  −
  −
It returns #ERROR(discount=-4%).
  −
  −
</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">
 
<div id="2SpaceContent" class="zcontent" align="left">
    
{| id="TABLE3" class="SpreadSheet blue"
 
{| id="TABLE3" class="SpreadSheet blue"
 
|- class="even"
 
|- class="even"
−
| class=" " |
+
| class="sshl_f" | 01/01/2010
−
| Column1
  −
| Column2
  −
| Column3
  −
| Column4
  −
|- class="odd"
  −
| class=" " | Row1
  −
| class="sshl_f" | 0.059798
  −
| class=" " |
  −
| class=" " |
  −
| class=" " |
  −
|- class="even"
  −
| class="  " | Row2
  −
| class="sshl_f      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=" " |
   
| class=" " |
 
| class=" " |
 
| class=" " |
 
| class=" " |
 +
 
|- class="odd"
 
|- class="odd"
−
| Row3
+
| class="sshl_f" | 11/20/2010
−
| class="sshl_f     " |
  −
| class=" " |
   
| class=" " |
 
| class=" " |
 
| class=" " |
 
| class=" " |
 +
 
|- class="even"
 
|- class="even"
−
| Row4
+
| class="sshl_f" | 5.85%
−
| class="sshl_f     " |
  −
| class=" " |
   
| class=" " |
 
| class=" " |
 
| class=" " |
 
| class=" " |
 +
 
|- class="odd"
 
|- class="odd"
−
| class=" " | Row5
+
| class="sshl_f" |  
−
|
  −
| class=" " |
  −
| class=" " |
  −
| class=" " |
  −
|- class="even"
  −
| Row6
  −
| class=" " |
  −
| class=" " |
   
| class=" " |
 
| class=" " |
 
| class=" " |
 
| class=" " |
 
|}
 
|}
   −
<div align="left">[[Image:calci1.gif]]</div></div>
+
=TBILLEQ(A1,A2,A3) : Calculates the bond equivalent yield for the Treasury Bill with values in the range A1 to A3. <br />Displays ''6.26%'' as a result.
−
----
+
=TBILLEQ(DATE(2013,10,20),DATE(2014,6,20),9%) : Calculates the bond equivalent yield for the Treasury Bill with the mentioned values. Displays ''9.72%'' as a result.
 +
 
 +
== See Also ==
 +
 
 +
*[[Manuals/calci/TBILLPRICE | TBILLPRICE]]
 +
*[[Manuals/calci/TBILLYIELD | TBILLYIELD]]
 +
 
 +
== References ==
 +
 
 +
*[http://en.wikipedia.org/wiki/Treasury_bill#Treasury_bill Treasury Bill]
Swapna
writer
2,661

edits

Retrieved from "http://wiki.zcubes.com/Special:MobileDiff/198095"