Difference between revisions of "Manuals/calci/INTRATE"
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| − | =INTRATE(SettlementDate, MaturityDate, Investment, | + | <div style="font-size:30px">'''INTRATE (SettlementDate,MaturityDate,Investment,RedemptionValue,Basis)'''</div><br/> |
| − | |||
*where, <math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased) | *where, <math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased) | ||
*<math>MaturityDate</math> is the security's maturity date (a date when coupon or a bond expires) | *<math>MaturityDate</math> is the security's maturity date (a date when coupon or a bond expires) | ||
*<math>Investment</math> is the amount invested in the security or a bond | *<math>Investment</math> is the amount invested in the security or a bond | ||
| − | *<math> | + | *<math>RedemptionValue</math> is the amount to be received at maturity of a bond |
*<math>Basis</math> is the type of day count basis to use | *<math>Basis</math> is the type of day count basis to use | ||
| − | + | **INTRATE(), returns the interest rate for a fully invested security. | |
| − | INTRATE() | ||
== Description == | == Description == | ||
| − | INTRATE(SettlementDate, MaturityDate, Investment, | + | INTRATE(SettlementDate, MaturityDate, Investment,RedemptionValue, Basis) |
*<math>SettlementDate</math> and <math>MaturityDate</math> should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message. | *<math>SettlementDate</math> and <math>MaturityDate</math> should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message. | ||
*If <math>SettlementDate</math> >= <math>MaturityDate</math>, Calci displays #N/A error message. | *If <math>SettlementDate</math> >= <math>MaturityDate</math>, Calci displays #N/A error message. | ||
| − | *If <math>Investment</math> <=0 or <math> | + | *If <math>Investment</math> <=0 or <math>RedemptionValue</math> <=0, Calci displays #N/A error message. |
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0. | *<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0. | ||
Below table shows the use of <math>Basis</math> values: | Below table shows the use of <math>Basis</math> values: | ||
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*[http://en.wikipedia.org/wiki/Interest_rate_derivative Interest Rate Derivative] | *[http://en.wikipedia.org/wiki/Interest_rate_derivative Interest Rate Derivative] | ||
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis] | *[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis] | ||
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| + | *[[Z_API_Functions | List of Main Z Functions]] | ||
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| + | *[[ Z3 | Z3 home ]] | ||
Latest revision as of 16:18, 22 August 2018
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.
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
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.
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See Also
References