Difference between revisions of "Manuals/calci/ODDLYIELD"
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(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> <font color="#000000"><font face="Arial, sans-serif">'''<font size="2">ODDLPRICE(settle, M, LI, R,pr, redem, F, bas...") |
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| − | <div | + | <div style="font-size:30px">'''ODDLYIELD(s,m,lt,r,pr,rdm,f,b)'''</div><br/> |
| + | *<math> s </math> is the settlement. | ||
| + | *<math> m </math> is the maturity. | ||
| + | *<math> lt </math> is the last coupon date. | ||
| + | *<math> r </math> is the rate of interest. | ||
| + | *<math> pr </math> is the security's price. | ||
| + | *<math> rdm </math> is the security's redemption. | ||
| + | *<math> f </math> is the frequency. | ||
| + | *<math> b </math> is the basis. | ||
| − | + | ==Description== | |
| − | + | *This function gives the yield of a security that pays interest periodically but has an odd last period. | |
| − | + | *This function is the inverse function of the OddLPrice function. | |
| − | + | *In ODDLYIELD(s,m,lt,r,pr,rdm,f,b), s is the security's settlementDate. It is a Date or DateTime specifying when the security was purchased. | |
| − | + | *m is the security's maturity date. This date is after the settlement date specifying when the security matures. | |
| − | - | + | *lt is the date which is specifying when the security has its last payment. This date must be before the settlementDate. |
| − | + | *r is a non-negative number specifying the interest rate for the coupons that the security pays. | |
| − | + | *pr is a non-negative number or currency specifying the security’s purchase price per $100 of face value. | |
| − | + | *rdm is a number or currency specifying the security’s value at redemption per $100 of face value. | |
| − | + | *f is is a number specifying the number of coupons per year. | |
| − | + | *The supported values are | |
| − | + | 1 -annual payments | |
| − | + | 2 -semiannual payments | |
| − | + | 4 -quarterly. | |
| − | * | + | *b is is an optional number specifying the day basis system to use. |
| − | * | + | *The following types are supported |
| − | * | + | {| class="wikitable" |
| − | + | |- | |
| − | + | ! Basis | |
| − | + | ! Day count basis | |
| − | + | |- | |
| − | + | | 0 or omitted || American 30/360 (default) | |
| − | + | |- | |
| − | + | | 1 || actual/actual | |
| − | + | |- | |
| − | + | | 2 || actual/360 | |
| − | + | |- | |
| − | + | | 3 || actual/365 | |
| − | + | |- | |
| − | + | | 4 || European 30/360 | |
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| − | + | *ODDLYIELD is calculated as follows: | |
| − | + | ODDLYIELD= | |
| + | *A_i = number of accrued days for the ith, or last, quasi-coupon period within odd period counting forward from last interest date before redemption. | ||
| + | *DC_i = number of days counted in the ith, or last, quasi-coupon period as delimited by the length of the actual coupon period. | ||
| + | *NC = number of quasi-coupon periods that fit in odd period; if this number contains a fraction it will be raised to the next whole number. | ||
| + | *NLi = normal length in days of the ith, or last, quasi-coupon period within odd coupon period. | ||
| + | *The date arguments must satisfy the following conditions: | ||
| + | s(settlement) <lt(last interest) < m(maturity). | ||
| + | *Also s, m, lt,and b are truncated in to integers. | ||
| + | *This function gives the result as error when | ||
| + | 1.The date arguments s,m and lt are not a valid date. | ||
| + | 2.r<0 or pr<=0 | ||
| + | 3.b<0 or b>4 | ||
Revision as of 05:27, 28 February 2014
ODDLYIELD(s,m,lt,r,pr,rdm,f,b)
- is the settlement.
- is the maturity.
- is the last coupon date.
- is the rate of interest.
- is the security's price.
- is the security's redemption.
- is the frequency.
- is the basis.
is the settlement.
is the maturity.
is the last coupon date.
is the rate of interest.
is the security's price.
is the security's redemption.
is the frequency.
is the basis.Description
- This function gives the yield of a security that pays interest periodically but has an odd last period.
- This function is the inverse function of the OddLPrice function.
- In ODDLYIELD(s,m,lt,r,pr,rdm,f,b), s is the security's settlementDate. It is a Date or DateTime specifying when the security was purchased.
- m is the security's maturity date. This date is after the settlement date specifying when the security matures.
- lt is the date which is specifying when the security has its last payment. This date must be before the settlementDate.
- r is a non-negative number specifying the interest rate for the coupons that the security pays.
- pr is a non-negative number or currency specifying the security’s purchase price per $100 of face value.
- rdm is a number or currency specifying the security’s value at redemption per $100 of face value.
- f is is a number specifying the number of coupons per year.
- The supported values are
1 -annual payments 2 -semiannual payments 4 -quarterly.
- b is is an optional number specifying the day basis system to use.
- The following types are supported
| Basis | Day count basis |
|---|---|
| 0 or omitted | American 30/360 (default) |
| 1 | actual/actual |
| 2 | actual/360 |
| 3 | actual/365 |
| 4 | European 30/360 |
- ODDLYIELD is calculated as follows:
ODDLYIELD=
- A_i = number of accrued days for the ith, or last, quasi-coupon period within odd period counting forward from last interest date before redemption.
- DC_i = number of days counted in the ith, or last, quasi-coupon period as delimited by the length of the actual coupon period.
- NC = number of quasi-coupon periods that fit in odd period; if this number contains a fraction it will be raised to the next whole number.
- NLi = normal length in days of the ith, or last, quasi-coupon period within odd coupon period.
- The date arguments must satisfy the following conditions:
s(settlement) <lt(last interest) < m(maturity).
- Also s, m, lt,and b are truncated in to integers.
- This function gives the result as error when
1.The date arguments s,m and lt are not a valid date. 2.r<0 or pr<=0 3.b<0 or b>4