This function returns the equivalent yield for a Treasury bill (or T-bill).

Syntax

TBILLEQ(settle,mature,discount)

Arguments

This function has these arguments:

Argument |
Description |

settle |
Settlement date for the Treasury bill |

mature |
Maturity date for the Treasury bill |

discount |
Discount rate for the Treasury bill |

Remarks

This function returns a #VALUE! error when settle or mature is invalid. Settle and mature are truncated to integers. If discount is less than or equal to 0, a #NUM! error is returned. If settle is greater than mature or if mature is more than one year after settle, a #NUM! error is returned. This function is calculated as (365 x rate)/(360-(rate x DSM)), where DSM is the number of days between settle and mature computed according to the 360 days per year basis.

Data Types

Accepts numeric and DateTime object data for all arguments. Returns numeric data.

Examples

TBILLEQ(A1,B2,C3)

TBILLEQ("3/31/2003","6/1/2003",0.0532) gives the result 0.054437659 (or 5.44%)

See Also