Microsoft Office Tutorials and References
In Depth Information
PRICEMAT
The discount rate of the security.
DISCOUNT
The redemption value of the security per $100 face value.
REDEMPTION
The day count basis to use.
BASIS
PRICEDISC is calculated as follows:
Figure 6.30
PRICEDISC returns
the value of a
discounted security
based on a price per
$100 face value.
A
The result of
the function
PRICEMAT
PRICEMAT returns the value of a security that pays interest at maturity and price per $100 face
value.
=PRICEMAT(settlement,maturity,issue,rate,yield,basis)
The PRICEMAT function returns the price per $100 face value that pays the interest at the
maturity of the security. The PRICEMAT function is found only if the Analysis Toolpak is installed. It
must be turned on using the Add-Ins command from the Tools menu. Notice in Figure 6.31
that the settelment date is 10/11/1999. The maturity date is 12/15/1999. The issue date is
7/16/1999. The annual rate is 7.2% and the annual yield is 7.2%. As you see, the basis is 4
(European 30/360).
The security’s settlement date. This is the date after the issue date when
the security is traded to the buyer.
SETTLEMENT
The security’s maturity date—the date when the security expires.
MATURITY
The issue date of the security.
ISSUE
The annual coupon rate of the security.
RATE
The annual yield of the security.
YIELD
The day count basis to use.
BASIS
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