Microsoft Office Tutorials and References
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Handling Bonds with an Odd Number of Days in the First or Last Period
Figure 13.21.
Figure 13.21. You can use the
You can use the DISC
DISC function to derive the underlying discount
function to derive the underlying discount
rate for a bond.
rate for a bond.
Handling Bonds with an Odd Number of Days in the First or Last Period
Handling Bonds with an Odd Number of Days in the First or Last Period
Excel provides four functions ODDFPRICE, ODDFYIELD, ODDLPRICE, and
ODDLYIELD to handle the special case in which a bond has a short or long
first or last period. This period has more or fewer days than all the other
periods and is called an odd period.
Foranexplanationoftheargumentstothesefunctions,see
see the
informationonthePRICE andYIELD functionsearlierinthis
chapter.
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