Difference between revisions of "Manuals/calci/PRICE"
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(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> '''PRICE'''(SettlementDate, MaturityDate, Rate,Yield, Redemption, Frequency, Basis) where, '''SettlementDate'''...") |
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| − | + | =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 == | |
| − | + | PRICE(settlement, maturity, rate, yield, redemption, frequency, basis) | |
| − | ''' | + | *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. | |
| − | ''' | + | *'basis' value is optional. If omitted, Calci assumes it to be 0. |
| + | Below table shows the use of 'basis' values: | ||
| − | + | {| class="wikitable" | |
| + | |- | ||
| + | ! Basis !! Description | ||
| + | |- | ||
| + | | 0 || US (NASD) 30/360 | ||
| + | |- | ||
| + | | 1 || Actual/actual | ||
| + | |- | ||
| + | | 2 || Actual/360 | ||
| + | |- | ||
| + | | 3 || Actual/365 | ||
| + | |- | ||
| + | | 4 || European 30/365 | ||
| + | |} | ||
| − | + | *If 'basis' value is other than 0 to 4, Calci displays #N/A error message. | |
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If Yield < 0 or Rate < 0, it returns the #ERROR. | If Yield < 0 or Rate < 0, it returns the #ERROR. | ||
| − | |||
If Frequency other than 1 , 2 or 4 returns the #ERROR. | If Frequency other than 1 , 2 or 4 returns the #ERROR. | ||
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If Redemption <= 0, PRICE returns the #ERROR. | If Redemption <= 0, PRICE returns the #ERROR. | ||
| − | + | == Examples == | |
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|} | |} | ||
| − | + | == See Also == | |
| − | + | ||
| + | *[[Manuals/calci/PRICEDISC | PRICEDISC]] | ||
| + | *[[Manuals/calci/PRICEMAT | PRICEMAT]] | ||
| + | |||
| + | == References == | ||
| + | |||
| + | *[http://en.wikipedia.org/wiki/Bond_duration#Macaulay_duration Macau | ||
Revision as of 21:37, 7 December 2013
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
PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)
- 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.
- 'basis' value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of 'basis' values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/365 |
- If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
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.
Examples
| Column1 | Column2 | Column3 | Column4 | |
| Row1 | 2/2/2008 | 1 | ||
| Row2 | 11/2/2008 | 97.852841 | ||
| Row3 | 5% | |||
| Row4 | 8% | |||
| Row5 | 100 | |||
| Row6 | 2 |
