PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)

where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),
'maturity' is the security's maturity date (a date when coupon or a bond expires),
'rate' is the security's rate,
'yield' is the security's annual yield,
'redemption' is
'frequency' is the number of coupon payments per year, and
'basis' is the type of day count basis to use.

PRICE() calculates the price per $100 face value of security that pays periodic interest.

Description

The function returns the price per $100 face value of security that pays periodic interest.
Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
If settlement date ≥ maturity date, Calci displays #N/A error message.
'coupon' and 'yield' values must be greater than or equal to zero.
The values for 'frequency' should be 1,2 or 4.

For Annual payment, frequency = 1,

For Semi-annual payment, frequency = 2,

For Quarterly payment, frequency = 4.

Below table shows the use of 'basis' values:

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

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

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