Changes

=YIELD(settlement, maturity, rate, price, redemption, frequency, basis)=

<div style="font-size:30px">'''YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)'''</div><br/>

*where <math>settlement</math> 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),  

*<math>maturity</math> is security's maturity date (a date when coupon or a bond expires),  

*<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>Rate</math> is security's annual coupon rate,  

*<math>price</math> is the price per $100 face value,

*<math>Price</math> is the price per $100 face value,

*<math>redemption</math> is security's redemption value per &#36;100 face value,

*<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>Frequency</math> is the number of coupon payments per year, and  

*<math>basis</math> is the type of day count basis to use.

*<math>Basis</math> is the type of day count basis to use.

YIELD() calculates the yield on a security or a bond that pays periodic interest.

YIELD(), returns the yield on a security that pays periodic interest.

== Description ==

== Description ==

YIELD(settlement, maturity, rate, price, redemption, frequency, basis)

YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)

*Yield is the annual percentage return on an investment or security. Yield is the value obtained by dividing Annual Interest by Bond Price.  

*Yield is the annual percentage return on an investment or security. Yield is the value obtained by dividing Annual Interest by Bond Price.  

  :<math>YIELD = \dfrac{(\dfrac{redemption}{100}+\dfrac{rate}{frequency})-(\dfrac{par}{100}+(\dfrac{B}{C}*\dfrac{rate}{frequency}))}{\dfrac{par}{100}+(\dfrac{B}{C}*\dfrac{rate}{frequency})}*\dfrac{frequency*C}{N}</math>

  :<math>YIELD = \dfrac{(\dfrac{redemption}{100}+\dfrac{rate}{frequency})-(\dfrac{par}{100}+(\dfrac{B}{C}*\dfrac{rate}{frequency}))}{\dfrac{par}{100}+(\dfrac{B}{C}*\dfrac{rate}{frequency})}*\dfrac{frequency*C}{N}</math>

*<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> value must be greater than or equal to zero, else Calci displays #N/A error message.

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

*<math>price</math> and <math>redemption</math> values must be greater than zero, else Calci displays #N/A error message.

*<math>Price</math> and <math>redemption</math> values 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:

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*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 ==

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

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

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