# Manuals/calci/INTRATE

INTRATE (SettlementDate,MaturityDate,Investment,RedemptionValue,Basis)

• where, is the security's settlement date (a date when coupon or a bond is purchased)
• is the security's maturity date (a date when coupon or a bond expires)
• is the amount invested in the security or a bond
• is the amount to be received at maturity of a bond
• is the type of day count basis to use
• INTRATE(), returns the interest rate for a fully invested security.

## Description

INTRATE(SettlementDate, MaturityDate, Investment,RedemptionValue, Basis)

• and should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
• If >= , Calci displays #N/A error message.
• If <=0 or <=0, 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 30/365
• If value is other than 0 to 4, Calci displays #N/A error message.
• Formula:

If 'B' is number of days in a year, and 'D' is number of days from 'settlement' to maturity', then INTRATE is calculated as -

## Examples

Consider the following example that shows the use of INTRATE function:

 11/1/2010 2/20/2011 2/2/2014 500000 7000 800000 9000 4 1
=INTRATE(A1,A2,A3,A4,A5) displays 1.981651376146789 as a result.
=INTRATE(DATE(2013,1,1),B2,B3,B4,B5) displays 0.2622154311211943 as a result.


INT RATE