Changes

=PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)=

<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.

*where <math>settlement</math> is security's settlement date (a date when coupon or a bond is purchased),  

PRICE(), returns the price per $100 face value of a security that pays periodic interest.

 

PRICE() calculates the price per &#36;100 face value of security that pays periodic interest.

== Description ==

== Description ==

PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)

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

*The function returns the price per &#36;100 face value of security that pays periodic interest.

*The function returns the price per &#36;100 face value of security that pays periodic interest.

*<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.

*<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>maturity</math> date, 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>Rate</math> and <math>yield</math> values must be greater than or equal to zero, else Calci displays #N/A error message.

*<math>redemption</math> value must be greater than 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.  

*The values for <math>Frequency</math> should be 1,2 or 4.  

For Annual payment, <math>frequency</math> = 1,

For Annual payment, <math>Frequency</math> = 1,

For Semi-annual payment, <math>frequency</math> = 2,

For Semi-annual payment, <math>Frequency</math> = 2,

For Quarterly payment, <math>frequency</math> = 4.

For Quarterly payment, <math>Frequency</math> = 4.

*<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:

{| class="wikitable"

{| class="wikitable"

|}

|}

*If <math>basis</math> 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 ==

PRICE(settlement, maturity, rate, yield, redemption, frequency, basis) function with inputs in order is calculated as follows:

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

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