Difference between revisions of "Manuals/calci/YIELDMAT"

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(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> '''YIELDMAT'''(SettlementDate, MaturityDate, IssueDate, Rate, Price, Basis) where, '''SettlementDate''' - rep...")
 
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<div id="6SpaceContent" class="zcontent" align="left">
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=YIELDMAT(settlement, maturity, issue, rate, price, basis)=
  
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'''YIELDMAT'''(SettlementDate, MaturityDate, IssueDate, Rate, Price, Basis)
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*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>issue</math> is security's issue date (a date when coupon or a bond is issued),
 +
*<math>rate</math> is security's annual coupon rate,  
 +
*<math>price</math> is the price per $100 face value,
 +
*<math>basis</math> is the type of day count basis to use.
  
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where,
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YIELDMAT() calculates the annual yield on a security or a bond that pays interest at maturity.
  
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'''SettlementDate''' - represents the settlement date.
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== Description ==
  
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'''MaturityDate''' - represents the maturity date.
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YIELDMAT(settlement, maturity, issue, rate, price, basis)
  
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'''IssueDate -''' represents the issue date.
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*YIELDMAT is the percentage annual yield on security that pays interest at maturity.
 +
*<math>settlement</math>, <math>maturity</math> and <math>issue</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.
 +
*Dates should satisfy the following condition. <math>maturity</math> &gt; <math>settlement</math> &gt; <math>issue</math>, 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> value must be greater than zero, else Calci displays #N/A error message.
 +
*<math>basis</math> value is optional. If omitted, Calci assumes it to be 0.  
 +
Below table shows the use of <math>basis</math> values:
  
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'''Rate''' - represents the  rate.
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{| class="wikitable"
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|-
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'''Price''' - represents the price per $100 face value.
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! Basis !! Description
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|-
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'''Basis''' - type of day count basis
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| 0 || US (NASD) 30/360
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|-
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'''Basis              Day count basis'''
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| 1 || Actual/actual
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|-
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0 or omitted    US 30/360
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| 2 || Actual/360
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|-
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1                     Actual/actual
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| 3 || Actual/365
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|-
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| 4 || European 30/360
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|}
  
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2                     Actual/360
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*If <math>basis</math> value is other than 0 to 4, Calci displays #N/A error message.
  
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3                     Actual/365
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== Examples ==
  
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4                     European 30/360
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YIELDMAT(settlement, maturity, issue, rate, price, basis) function with inputs in order is calculated as follows:
  
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</div>
 
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----
 
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<div id="1SpaceContent" class="zcontent" align="left">
 
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It returns the annual yield that pays interest at maturity.
 
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</div>
 
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----
 
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<div id="7SpaceContent" class="zcontent" align="left">
 
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If Basis &lt; 0 or Basis &gt; 4 , YIELDMAT returns the #ERROR.
 
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If  Rate &lt; 0 or Price &lt;= 0, it returns the #ERROR.
 
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If SettlementDate &gt;= MaturityDate, YIELDMAT returns #ERROR.
 
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</div>
 
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----
 
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<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
 
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YIELDMAT
 
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</div></div>
 
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----
 
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<div id="8SpaceContent" class="zcontent" align="left">
 
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Lets see an example in (Column1, Row6)
 
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<nowiki>=YIELDMAT(R1C1, R2C1, R3C1, R4C1, R5C1)</nowiki>
 
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YIELDMAT returns 1.651036.
 
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Consider another example
 
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<nowiki>=YIELDMATdate(2007,1,1), date(2008,2,20),DATE(2007,5,5),"6.34%" 85.12,5)</nowiki>
 
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It returns #ERROR(Basis=5).
 
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</div>
 
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----
 
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<div id="10SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Syntax </div><div class="ZEditBox"><center></center></div></div>
 
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----
 
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<div id="4SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Remarks </div></div>
 
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----
 
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<div id="3SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Examples </div></div>
 
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----
 
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<div id="11SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Description </div></div>
 
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<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"
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| class=" " |
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| class="sshl_f" | 1/2/2010
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| class="   " | Column1
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| class="sshl_f" |
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| class=" SelectTD ChangeBGColor SelectTD" |
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<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>Column2
 
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| Column3
 
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| Column4
 
 
|- class="odd"
 
|- class="odd"
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| class=" " | Row1
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| class="sshl_f" | 1/2/2012
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| class=" " | 1/1/2008
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| class="sshl_f" |  
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|
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|
 
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|
 
 
|- class="even"
 
|- class="even"
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| class=" " | Row2
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| class="sshl_f" | 12/1/2009
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| class=" " | 2/20/2008
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| class="sshl_f" |
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|
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−
|
 
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|
 
 
|- class="odd"
 
|- class="odd"
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| Row3
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| class="sshl_f" | 5.5%
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| class=" " | 2/2/2007
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| class="sshl_f" |  
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|
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|
 
−
|
 
 
|- class="even"
 
|- class="even"
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| Row4
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| class="sshl_f" | $100
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| class=" " | 8.25%
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| class="sshl_f" |
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|
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|
 
−
|
 
 
|- class="odd"
 
|- class="odd"
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| class=" " | Row5
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| class="sshl_f" | 0
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| class=" " | 80.855
 
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|
 
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|
 
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|
 
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|- class="even"
 
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| class="sshl_f" | Row6
 
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| class="sshl_f " | 2
 
 
| class="sshl_f" |
 
| class="sshl_f" |
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| class="sshl_f" |
 
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| class="sshl_f" |
 
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|- class="odd"
 
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| class="sshl_f" | Row7
 
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| class="sshl_f" | 1.651036
 
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|
 
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|
 
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|
 
 
|}
 
|}
  
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<div align="left">[[Image:calci1.gif]]</div></div>
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=YIELDMAT(A1,A2,A3,A4,A5,A6) : Calculates the percentage annual yield with the inputs in the range A1 to A7. Returns '''5.47%''' as a result.
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----
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 +
== See Also ==
 +
 
 +
*[[Manuals/calci/YIELD| YIELD]]
 +
*[[Manuals/calci/YIELDDISC | YIELDDISC]]
 +
 
 +
== References ==
 +
 
 +
*[http://en.wikipedia.org/wiki/Yield_(finance) Yield]
 +
*[http://en.wikipedia.org/wiki/Yield_to_maturity Yield to Maturity]
 +
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]

Revision as of 17:10, 3 February 2014

YIELDMAT(settlement, maturity, issue, rate, price, basis)

  • where is security's settlement date (a date when coupon or a bond is purchased),
  • is security's maturity date (a date when coupon or a bond expires),
  • is security's issue date (a date when coupon or a bond is issued),
  • is security's annual coupon rate,
  • is the price per $100 face value,
  • is the type of day count basis to use.

YIELDMAT() calculates the annual yield on a security or a bond that pays interest at maturity.

Description

YIELDMAT(settlement, maturity, issue, rate, price, basis)

  • YIELDMAT is the percentage annual yield on security that pays interest at maturity.
  • , and dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
  • Dates should satisfy the following condition. > > , else Calci displays #N/A error message.
  • value must be greater than or equal to zero, else Calci displays #N/A error message.
  • value must be greater than zero, else Calci displays #N/A error message.
  • value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360
  • If value is other than 0 to 4, Calci displays #N/A error message.

Examples

YIELDMAT(settlement, maturity, issue, rate, price, basis) function with inputs in order is calculated as follows:

1/2/2010
1/2/2012
12/1/2009
5.5%
$100
0 
=YIELDMAT(A1,A2,A3,A4,A5,A6) : Calculates the percentage annual yield with the inputs in the range A1 to A7. Returns 5.47% as a result.

See Also

References

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