YIELDDISC

Description Computes the annual yield of a discounted security, given a specified price and redemption value.

Syntax YIELDDISC ( settlement, maturity, price, 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.

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

Equation

Examples This function returns 0.0244:

YIELDDISC("10/23/94","7/7/95",98.31,100)

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