Description Computes the annual yield of a security that pays periodic interest. Rate, redemption value, and price must be specified.
Syntax YIELD ( settlement, maturity, rate, price, redemption, frequency [, 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. |
| rate | The security's annual coupon rate. The coupons pay at this rate divided by frequency. |
| price | The amount the buyer pays, per $100 face value. |
| redemption | The security's redemption value per $100 face value. This is the amount paid at the settlement date that is not part of any final coupon payment. |
| frequency | The number of interest payments per year. See The frequency Argument for more information. |
| [calendar_type] | Optional. One of five methods of counting days for computing interest. See The calendar_type Argument for more information. |
Examples This function returns 0.0921:
YIELD("5/6/97","12/31/99",0.06,0.92.53,100,4)
See Also PRICE, PRICEDISC, PRICEMAT, YIELDDISC, YIELDMAT
