Manuals/calci/TBILLPRICE

TBILLEQ(SettlementDate, MaturityDate, Discount)

where,

• $SettlementDate$ is the Treasury Bill's settlement date (a date when the Treasury Bill is purchased)
• $MaturityDate$ is the Treasury Bill's maturity date (a date when the Treasury Bill expires)
• $Discount$ is the Treasury Bill's discount rate.

TBILLEQ() calculates the price per $100 face value for a Treasury Bill.

Description

TBILLEQ(SettlementDate, MaturityDate, Discount)

• $SettlementDate$ and $MaturityDate$ should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
• If $SettlementDate$ >= $MaturityDate$, Calci displays #N/A error message.
• $MaturityDate$ should not be greater than one year from $SettlementDate$. Else, Calci displays #N/A error message.
• If $Discount$ <=0, Calci displays #N/A error message.
• Formula:

If 'N' is number of days from 'Settlement' to 'Maturity', then TBILLPRICE is calculated as -

$TBILLPRICE=100*(1-{\frac {(Discount*N)}{360}})$

Examples

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

01/01/2010
11/20/2010
5.85%

=TBILLPRICE(A1,A2,A3) : Calculates the price for the Treasury Bill with values in the range A1 to A3. 
Displays 94.75125 as a result.
=TBILLPRICE(DATE(2013,10,20),DATE(2014,6,20),9%) : Calculates the price for the Treasury Bill with 
the mentioned values. Displays 93.925 as a result.

See Also

• TBILLEQ
• TBILLYIELD

References

• Treasury Bill