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- is the settlement.
- is the maturity.
- is the issue date.
- is the first coupon date.
- is the rate of interest.
- is the security's price.
- is the security's redemption.
- is the frequency.
- is the basis.
- ODDFYIELD(),returns the yield of a security with an odd first period.
- This function gives the yield of a security that pays interest periodically but has an odd first period.
- , is the security's settlementDate. It is a Date or DateTime specifying when the security was purchased.
- is the security's maturity date. This date is after the settlement date specifying when the security matures.
- is the date which is specifying when the security was issued.
- is the date which is specifying when the security has its first interest payment. This date must be after the settlement date but before the maturity date.
- is a non-negative number specifying the interest rate for the coupons that the security pays.
- is a non-negative number or currency specifying the security’s purchase price per $100 of face value.
- is a number or currency specifying the security’s value at redemption per $100 of face value.
- is is a number specifying the number of coupons per year.
- The supported values are
1 -annual payments 2 -semiannual payments 4 -quarterly.
- 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)|
- To find the value of a we are using the iterative technique.
- The value is changed through 100 iterations until the estimated price with the given value is near to the price.
- The date arguments must satisfy the following conditions:
IssueDate<SettlementDate <FirstCouponDate < MaturityDate.
- Also , ,, and are truncated in to integers.
- This function gives the result as error when
1.The date arguments SettlementDate,MaturityDate and FirstCouponDate are not a valid date. 2.Rate<0 or Price<=0 3.Basis<0 or Basis>4
- =ODDFYIELD(A1,A2,A3,A4,A5,A6,A7,A8,A9)= 0.09758683535