PRICE
Syntax:
PRICE ( settlement , maturity , rate , yld , redemption , frequency [ , [ basis ] ] )
Description: Computes the price per $100 face value of a security that pays periodic interest.
Mathematical Formula:
where:
DSC = number of days from settlement to next coupon date.E = number of days in coupon period in which the settlement date falls.N = number of coupons payable between settlement date and redemption date.A = number of days from beginning of coupon period to settlement date.
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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rate |
number |
The security's interest rate. |
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yield |
number |
The security's annual yield. |
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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.) frequency is truncated to an integer. |
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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 price per $100 face value of a security that pays periodic interest.
However, if
settlement or maturity is out of range for the current date base value,
#NUM!is returned.settlement ≥ maturity,
#NUM!is returned.rate or yld < 0,
#NUM!is returned.redemption ≤ 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.