Revision as of 04:51, 14 March 2017

INTRATE(SettlementDate, MaturityDate, Investment, Redemption, Basis)

where, $SettlementDate$ is the security's settlement date (a date when coupon or a bond is purchased)
$MaturityDate$ is the security's maturity date (a date when coupon or a bond expires)
$Investment$ is the amount invested in the security or a bond
$Redemption$ is the amount to be received at maturity of a bond
$Basis$ is the type of day count basis to use

INTRATE() calculates the interest rate for a fully invested security.

$SettlementDate$ 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.
If $Investment$ <=0 or $Redemption$ <=0, 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:

If 'B' is number of days in a year, and 'D' is number of days from 'settlement' to maturity', then INTRATE is calculated as -

$INTRATE={\frac {(redemption-investment)}{investment}}X{\frac {B}{D}}$

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

=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.

@@ Line 95: / Line 95: @@
 *[http://en.wikipedia.org/wiki/Interest_rate_derivative Interest Rate Derivative]
 *[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
+*[[Z_API_Functions | List of Main Z Functions]]
+*[[ Z3 |   Z3 home ]]