Manuals/calci/PRICE

PRICE(SettlementDate, MaturityDate, Rate,Yield, Redemption, Frequency, Basis)

where,

SettlementDate - represents the settlement date.

MaturityDate - represents the maturity date.

Rate - the annual coupon rate.

Yield - the annual yield.

Redemption - represents the redemption value per $100 face value.

Frequency - the number of coupon payment per year.

Payments frequency

annual 1

semiannual 2

quarterly 4

Basis - type of day count basis

Basis Day count basis

0 or omitted US 30/360

1 Actual/actual

2 Actual/360

3 Actual/365

4 European 30/360

It returns the price per $100 face value that pays periodic interest.

Formula:-

PRICE =

If Basis < 0 or Basis > 4 , PRICE returns the #ERROR.

If Yield < 0 or Rate < 0, it returns the #ERROR.

If SettlementDate >= MaturityDate, PRICE returns #ERRROR.

If Frequency other than 1 , 2 or 4 returns the #ERROR.

If Redemption <= 0, PRICE returns the #ERROR.

PRICE

Lets see an example in (Column2, Row2)

=PRICE(R1C1, R2C1, R3C1, R4C1, R5C1,R6C1,R1C2)

PRICE returns 97.852841.

Consider another example

=PRICE(date(1/1/2007),date(2/2/2008), "5%", "4%",0,3)

It returns #ERROR(frequency =0).

Syntax

Remarks

Examples

Description