Difference between revisions of "Manuals/calci/DISC"
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=DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)= | =DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)= | ||
| − | + | <div style="font-size:30px">'''DISC (SettlementDate,MaturityDate,Price,RedemptionValue,Basis)'''</div><br/> | |
where, | where, | ||
*<math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased) | *<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>Price</math> is the security's price per $100 face value | *<math>Price</math> is the security's price per $100 face value | ||
| − | *<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 | ||
| Line 11: | Line 11: | ||
== Description == | == Description == | ||
| − | DISC(SettlementDate, MaturityDate, Price, | + | DISC(SettlementDate, MaturityDate, Price, 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>Price</math> <=0 or <math> | + | *If <math>Price</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: | ||
Revision as of 16:11, 29 June 2018
DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)
DISC (SettlementDate,MaturityDate,Price,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 security's price per $100 face value
- is the amount to be received at maturity of a bond
- is the type of day count basis to use
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 security's price per $100 face value
is the amount to be received at maturity of a bond
is the type of day count basis to useDISC() calculates the discount rate for a security.
Description
DISC(SettlementDate, MaturityDate, Price, 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 'DIM' is number of days from 'Settlement' to ' Maturity', the DISC is calculated as -
DISC =
Examples
Consider the following example that shows the use of DISC function:
| 06/09/2010 | ||
| 11/19/2010 | ||
| 97.975 | ||
| 100 | ||
| 1 | ||
=DISC(A1,A2,A3,A4,A5) displays 0.045345092024540005 as a result.
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References