Microsoft Office Tutorials and References
In Depth Information
YIELDDISC
Figure 6.41
Based on a yield that
pays periodic interest,
this function returns
the yield of the security.
A
Producing
YIELD
results with cell
referencing
YIELDDISC
For a discounted security, YIELDDISC returns the annual yield.
=YIELDDISC(settlement,maturity,pr,redemption,basis)
The YIELDDISC function returns the annual yield of a discounted security. The YIELDDISC function
is found only if the Analysis Toolpak is installed. It must be turned on using the Add-Ins command
from the Tools menu. As you’ll see in Figure 6.42, the settlement date of the security is 11/15/1999
and the maturity date is 2/9/2000. The security’s price per $100 face value is $98 and the basis is
30/360(4). This produces an annual yield of 8.75%.
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—when the security expires.
MATURITY
The price of the security.
PR
The redemption value of the security per $100 face value.
REDEMPTION
The day count basis to use.
BASIS
Figure 6.42
For a discounted
security, YIELDDISC
returns the annual
yield.
A
Cell referencing
produces this
function.
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