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- 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.
- ODDLYIELD(), returns the yield of a security with an odd last period.
- 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 , 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 has its last payment. This date must be before the settlementDate.
- 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)|
- is calculated as follows:
- = number of accrued days for the ith, or last, quasi-coupon period within odd period counting forward from last interest date before redemption.
- = number of days counted in the ith, or last, quasi-coupon period as delimited by the length of the actual coupon period.
- = 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.
- = normal length in days of the ith, or last, quasi-coupon period within odd coupon period.
- The date arguments must satisfy the following conditions:
SettlementDate <LastInterestDate < MaturityDate.
- Also , , ,and are truncated in to integers.
- This function gives the result as error when
1.The date arguments SettlementDate, MaturityDate and LastInterestDate are not a valid date. 2.Rate<0 or Price<=0 3.Basis<0 or Basis>4
- =ODDLYIELD("10/May/1998","28/Sep/1998","5/Mar/1998",4.05%,125,50,4,0)= -1.523902561320
- =ODDLYIELD("10/May/1998","28/Sep/1998","5/Mar/1998",4.05%,125,50,1,1) = -1.5119336294351
- =ODDLYIELD("5/10/1998","9/28/1998","3/5/1998",4.05%,125,50,2,2)= -1.49066037101320
- =ODDLYIELD("10/May/1998","28/Sep/1998","5/Mar/1998",4.05%,125,50,2,3)= -1.5119336294351
- =ODDLYIELD("10/May/1998","28/Sep/1998","5/Mar/1998",4.05%,125,50,2,4) = -1.5239025613