Microsoft Office Tutorials and References
In Depth Information
Figure 6.33
RATE returns the per
period interest of an
Based on a fully invested security, RECEIVED returns the amount received at maturity.
The RECEIVED function returns the maturity amount based on the fully invested security. The
RECEIVED function is found only if the Analysis Toolpak is installed. It must be turned on using
the Add-Ins command from the Tools menu. Figure 6.34 shows the function with the dates in the
formula and as a cell reference. The settlement date is 11/15/1999 and the maturity date is
2/15/2000. You also see that the total amount of the security investment is $500,000 and the
discount rate is 5.75% with a day count basis of 2 or Actual/360. The amount received at maturity
results in $507,457.
The security’s settlement date. This is the date after the issue date
when the security is traded to the buyer.
The security’s maturity date—the date when the security expires.
The total amount invested in the security.
The discount rate of the security.
The day count basis to use.
RECEIVED can be calculated as follows:
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