PRICEDISC

Description Computes the price of a discounted security per $100 face value, given a specified discount rate and redemption value.

Syntax PRICEDISC ( settlement, maturity, discount, redemption [, calendar_type] )

Argument Description

settlement The date when the security is traded to the buyer. Decimal values will be truncated to integers.

maturity The date the security expires and the remaining amount is paid to the investor. It must be later than settlement. Decimal values will be truncated to integers.

discount The security's annual discount rate.

redemption The security's redemption value per $100 face value. This is the amount paid at maturity.

[calendar_type] Optional. One of five methods of counting days for computing interest. See The calendar_type Argument for more information.

Argument	Description
settlement	The date when the security is traded to the buyer. Decimal values will be truncated to integers.
maturity	The date the security expires and the remaining amount is paid to the investor. It must be later than settlement. Decimal values will be truncated to integers.
discount	The security's annual discount rate.
redemption	The security's redemption value per $100 face value. This is the amount paid at maturity.
[calendar_type]	Optional. One of five methods of counting days for computing interest. See The calendar_type Argument for more information.

Equation redemption - discount x redemption x YEARFRAC(settlement, maturity, calendar_type)

Examples This function returns 56.01:

PRICEDISC("5/7/92","12/31/99",0.0575,100)

See Also DISC, PRICE, PRICEMAT, YIELD, YIELDDISC, YIELDMAT