ODDFYIELD
Syntax:
ODDFYIELD ( settlement , maturity , issue , first-coupon , rate , pr , redemption ,frequency [ , [ basis ] ] )
Description: Computes the yield of a security that has an odd (short or long) first period.
Arguments:
Name |
Type |
Description |
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settlement |
number |
The security's settlement date. |
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maturity |
number |
The security's maturity date. |
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issue |
number |
The security's issue date. |
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first-coupon |
number |
The security's first coupon date. |
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rate |
number |
The security's interest rate. |
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pr |
number |
The security's price. |
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redemption |
number |
The security's redemption value per $100 face value. |
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frequency |
number |
the number of coupon payments per year. (For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4.) |
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basis |
number |
The truncated integer type of day count basis to use, as follows:
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Time information in the date arguments is ignored.
Return Type and Value: number – The yield of a security that has an odd (short or long) first period.
However, if
settlement, maturity, issue, or first-coupon is out of range for the current date base value,
#NUM!is returned.The following is not true: maturity is later than first-coupon, which is later than settlement, which is later than issue, so
#NUM!is returned.rate or pr < 0,
#NUM!is returned.frequency is any number other than 1, 2, or 4,
#NUM!is returned.basis < 0 or basis > 4,
#NUM!is returned.