Microsoft Office Tutorials and References
In Depth Information
Syntax:
Syntax:
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ODDFPRICE(settlement,maturity,issue,first_coupon,rate,yld,redemp-
tion,frequency,basis)
ODDFYIELD (settle-
ment,maturity,issue,first_coupon,rate,pr,redemption,frequency,basis)
The ODDF functions handle cases in which the first period has an odd number
of days. These are ODDFPRICE and ODDFYIELD. Each function has the extra
argument first_coupon, which specifies the date for the odd first period.
Syntax
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ODDLPRICE(settlement,maturity,last_interest,rate,yld,redemption,fre-
quency,basis)
ODDLYIELD(settlement,maturity,last_interest,rate,pr,redemption,fre-
quency,basis)
The ODDL functions handle cases in which the last period has an odd number
of days. These are ODDLPRICE and ODDLYIELD. These functions have the ex-
tra argument last_interest, which is the date of the final interest payment
before maturity. Using this date, Excel can determine the length of the time for
the last period.
Using
Using PRICEMAT
PRICEMAT and
and YIELDMAT
YIELDMAT tto Calculate
Calculate Price
Price and
and Yield
Yield for
for
Zero-Coupon Bonds
A zero-coupon bond does not pay interest on the coupon dates. All interest
is paid at maturity. Excel provides PRICEMAT and YIELDMAT to calculate
price and yield for these securities. Figure 13.22 illustrates both of these
functions.
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