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YIELD

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This function calculates the yield on a security that pays periodic interest.

Syntax

YIELD(settle,maturity,rate,price,redeem,frequency,basis)

Arguments

This function has these arguments:

Argument

Description

settle

Settlement date for the security

maturity

Maturity date for the security

rate

Annual coupon rate

price

Price per $100 face value for the security

redeem

Redemption value per $100 face value

frequency

Frequency of payment, number of coupon payments per year; must be 1, 2, or 4

basis

[Optional] Integer representing the basis for day count (Refer to Day Count Basis.)

Remarks

This function returns a #VALUE! error when settle or maturity is invalid. A #NUM! error is returned if frequency is a number other than 1, 2, or 4. If rate is less than 0, a #NUM! error is returned. If price or redeem is less than or equal to 0, a #NUM! error is returned. If basis is less than 0 or greater than 4, a #NUM! error is returned. If settle is greater than or equal to maturity, a #NUM! error is returned. Settle, maturity, frequency, and basis are truncated to integers.

Data Types

Accepts numeric data and dates. Returns numeric data.

Examples

YIELD(A1,A2,A3,A4,A5,A6,A7)

 

See Also

ODDFYIELD

YIELDDISC

YIELDMAT