Difference between revisions of "Manuals/calci/PRICEMAT"

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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">PRICEMAT(settle, M, I, R, yield, basis)</fon...")
 
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=PRICEMAT(settlement, maturity, issue, rate, yield, basis)=
  
<font color="#000000">'''<font face="Arial, sans-serif"><font size="2">PRICEMAT(settle, M, I, R, yield, basis)</font></font>'''</font>
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*where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),  
 +
*'maturity' is security's maturity date (a date when coupon or a bond expires),
 +
*'issue' is security's issue date (a date when coupon or a bond is issued),  
 +
*'rate' is security's interest rate,  
 +
*'yield' is security's annual yield,
 +
*'basis' is the type of day count basis to use.
  
<font color="#000000"><font face="Arial, sans-serif"><font size="2">'''Where 'settle''''</font></font><font face="Arial, sans-serif"><font size="2"> is the security's settlement date, 'M' is the security's maturity date, 'I' is the security's issue date, 'R' is the security's interest rate, 'yield' is the security's annual yield, and 'basos' is the type of day count basis to use.</font></font></font>
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PRICEMAT() calculates the price per &#36;100 face value of security that pays interest at maturity.
  
<br />
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== Description ==
  
</div>
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PRICEMAT(settlement, maturity, issue, rate, yield, basis)
----
 
<div id="1SpaceContent" class="zcontent" align="left"> <font color="#000000"><font face="Arial, sans-serif"><font size="2">This function computes the price per $100 face value of a security that pays interest.</font></font></font></div>
 
----
 
<div id="7SpaceContent" class="zcontent" align="left"> 
 
  
* <font color="#000000"><font face="Arial, sans-serif"><font size="2">PRICEMAT shows the error value, when 'settle', 'M', 'I', or 'I' is not a valid date or 'R' or 'Yield' &lt; 0.</font></font></font>
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*The function returns the price per &#36;100 face value of security that pays interest at maturity.
 +
*Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
 +
*If settlement date ≥ maturity date, Calci displays #N/A error message.
 +
*'rate' and 'yield' values must be greater than or equal to zero, else Calci displays #N/A error message.
 +
*'basis' value is optional. If omitted, Calci assumes it to be 0.  
 +
Below table shows the use of 'basis' values:
  
* <font color="#000000"><font face="Arial, sans-serif"><font size="2">Basis must between 0 and 4. </font></font></font>
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{| class="wikitable"
 
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|-
* <font color="#000000"><font face="Arial, sans-serif"><font size="2">PRICEMAT counts the error value when settle ≥ M. </font></font></font>
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! Basis !! Description
 
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|-
<br /><br />
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| 0 || US (NASD) 30/360
 
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|-
</div>
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| 1 || Actual/actual
----
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|-
<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
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| 2 || Actual/360
 
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|-
PRICEMAT
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| 3 || Actual/365
 
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|-
</div></div>
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| 4 || European 30/365
----
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|}
<div id="8SpaceContent" class="zcontent" align="left"> 
 
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2">Lets see an example,</font></font></font>
 
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2">PRICEMAT(settle, M, I, R, yield, basis)</font></font></font>
 
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2">'''B'''</font></font></font>
 
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2">03-20-2008</font></font></font>
 
  
<font color="#000000"><font face="Arial, sans-serif"><font size="2">05-18-2008</font></font></font>
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*If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
  
<font color="#000000"><font face="Arial, sans-serif"><font size="2">12-12-2007</font></font></font>
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== Examples ==
  
<font color="#000000"><font face="Arial, sans-serif"><font size="2">6%</font></font></font>
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PRICEMAT(settlement, maturity, issue, rate, yield, basis) function with inputs in order is calculated as follows:
  
<font color="#000000"><font face="Arial, sans-serif"><font size="2">6%</font></font></font>
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2">0</font></font></font>
 
 
<font color="#000000"><font face="Arial, sans-serif"><font size="2"><nowiki>=PRICEMAT(B2,B3,B4,B5,B6,B7) is 99.9844</nowiki></font></font></font>
 
 
</div>
 
----
 
<div id="10SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Syntax </div><div class="ZEditBox"><center></center></div></div>
 
----
 
<div id="4SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Remarks </div></div>
 
----
 
<div id="3SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Examples </div></div>
 
----
 
<div id="11SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Description </div></div>
 
----
 
 
<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"
| class=" " |
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| class="sshl_f" | 2/2/2008
| Column1
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| class="sshl_f" |
| class=" " | Column2
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| Column3
 
| Column4
 
 
|- class="odd"
 
|- class="odd"
| class=" " | Row1
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| class="sshl_f" | 11/2/2016
| class="sshl_f" | 03-20-2008
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| class="sshl_f" |  
| class="sshl_f" | 99.984362
+
 
| class="                                                                                                      " |
 
|
 
 
|- class="even"
 
|- class="even"
| class="  " | Row2
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| class="sshl_f" | 5%
| class="sshl_f" | 05-18-2008
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| class="sshl_f" |
| class="                                                                                                                                                                                         sshl_f " |
+
 
|
 
|
 
 
|- class="odd"
 
|- class="odd"
| Row3
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| class="sshl_f" | 8%
| class="sshl_f" | 12-12-2007
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| class="sshl_f" |  
|
+
 
|
 
|
 
 
|- class="even"
 
|- class="even"
| Row4
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| class="sshl_f" | $100
| class="sshl_f" | 6%
+
| class="sshl_f" |
|
+
 
|
 
|
 
 
|- class="odd"
 
|- class="odd"
| class=" " | Row5
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| class="sshl_f" | 2
| class="sshl_f" | 6%
+
| class="sshl_f" |  
|
+
 
| class="SelectTD  SelectTD" |
 
|
 
 
|- class="even"
 
|- class="even"
| Row6
 
 
| class="sshl_f" | 0
 
| class="sshl_f" | 0
|
+
| class="sshl_f" |
|
 
|
 
 
|}
 
|}
  
<div align="left">[[Image:calci1.gif]]</div></div>
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=PRICEMAT(A1,A2,A3,A4,A5,A6) : Calculates the Price Value with the inputs in the range A1 to A7. Returns ''81.36538958112115''.
----
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 +
== See Also ==
 +
 
 +
*[[Manuals/calci/PRICE | PRICE]]
 +
*[[Manuals/calci/PRICEDISC | PRICEDISC]]
 +
 
 +
== References ==
 +
 
 +
*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
 +
*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]

Revision as of 15:57, 9 December 2013

PRICEMAT(settlement, maturity, issue, rate, yield, basis)

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

PRICEMAT() calculates the price per $100 face value of security that pays interest at maturity.

Description

PRICEMAT(settlement, maturity, issue, rate, yield, basis)

  • The function returns the price per $100 face value of security that pays interest at maturity.
  • Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
  • If settlement date ≥ maturity date, Calci displays #N/A error message.
  • 'rate' and 'yield' values must be greater than or equal to zero, else Calci displays #N/A error message.
  • 'basis' value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of 'basis' values:

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

Examples

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

2/2/2008
11/2/2016
5%
8%
$100
2
0
=PRICEMAT(A1,A2,A3,A4,A5,A6) : Calculates the Price Value with the inputs in the range A1 to A7. Returns 81.36538958112115.

See Also

References