Manuals/calci/TBILLYIELD

TBILLYIELD(SettlementDate, MaturityDate, Price)

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)
• $Price$ is the Treasury Bill's price per $100 face value.

TBILLYIELD() calculates the yield for a Treasury Bill.

Description

TBILLYIELD(SettlementDate, MaturityDate, Price)

• $SettlementDate$ 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 more than one year than that of $SettlementDate$. Else, Calci displays #N/A error message.
• If $Price$ <=0, Calci displays #N/A error message.
• Formula:

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

$TBILLYIELD={\frac {(100-Price)}{Price}}*{\frac {360}{N}}$

Examples

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

06/25/2014
10/25/2014
97.5

=TBILLYIELD(A1,A2,A3) : Calculates the yield for treasury bill with the input values from the cells A1 to A3. 
Returns 0.07566204287515763 as a result.
=TBILLYIELD(DATE(2013,10,20),DATE(2014,6,20),93.9) : Calculates the yield for treasury bill 
with the values mentioned as arguments. Returns 0.09624107600678411 as a result.

Related Videos

TBILLYIELD

See Also

• TBILLEQ
• TBILLPRICE

References

• Treasury Bill

• List of Main Z Functions

• Z3 home