Documentation/Calc Functions/RECEIVED

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    Function name:

    RECEIVED

    Category:

    Financial Analysis

    Summary:

    Calculates the amount received at maturity for a discounted security, based on the amount originally invested and a specified discount rate. The security is assumed to provide no interest payments (examples of such securities might include zero-coupon bonds or US Treasury Bills).

    Syntax:

    RECEIVED(Settlement; Maturity; Investment; Discount[; Basis])

    Returns:

    Returns a positive real number which is the amount received at maturity for a security with the specified characteristics, expressed in the same currency unit that was used for the security’s investment value.

    Arguments:

    Settlement is a date (in quotation marks) or a date-time serial number, or a reference to a cell containing one of those types, which specifies the date of purchase of the security.

    Maturity is a date (in quotation marks) or a date-time serial number, or a reference to a cell containing one of those types, which specifies when the security is sold or redeemed.

    Investment is a positive real number, or a reference to a cell containing that number, which is the purchase price of the security.

    Discount is a non-negative real number (expressed as a percentage, such as 2.5%, or a decimal fraction, such as 0.025), or a reference to a cell containing that number, which is the discount rate of the security.


    Basis is an integer in the range 0 to 4, or a reference to a cell containing that integer, which indicates how the year is to be calculated. For more background information, visit Wikipedia's Day count convention page.

    Basis Calculation
    0 or missing US method (NASD), 12 months of 30 days each
    1 Exact number of days in months, exact number of days in year.
    2 Exact number of days in month, year has 360 days.
    3 Exact number of days in month, year has 365 days.
    4 European method, 12 months of 30 days each.


    • If either Maturity or Settlement is not a valid date, then RECEIVED reports a #VALUE! error.
    • If either Maturity or Settlement contains time components, then these are ignored by RECEIVED.
    • If the Settlement date is on or after the Maturity date, then RECEIVED reports an invalid argument error (Err:502).
    • If either Investment or Discount is non-numeric, then RECEIVED reports a #VALUE! error.
    • If either Investment or Discount is less than or equal to 0.0, then RECEIVED reports an invalid argument error (Err:502).
    • If Basis is a non-integer value, then RECEIVED truncates it to an integer value.
    • If, after any truncation, Basis is not equal to 0, 1, 2, 3, or 4, then RECEIVED reports an invalid argument error (Err:502).

    Additional details:

    • The formula for RECEIVED is:
    [math]\displaystyle{ \text{RECEIVED}~=~\frac{Investment}{1.0\:-\:(Discount \:\times\: \text{YEARFRAC}(Settlement;\:Maturity;\:Basis))} }[/math]
    • As the above formula takes no account of compounding, RECEIVED may be most reliable for periods of less than a year.

    Examples:

    Formula Description Returns
    =RECEIVED(A1; A2; A3; A4; A5) where cells A1 and A2 contain the dates 2020-01-01 and 2023-06-30 respectively; cells A3:A5 contain the numbers 20000, 5%, and 3 respectively. Here the function calculates the amount received at maturity for a security with the specified characteristics and returns a value of approximately 24236.39 currency units. 24,236.3877822045
    =RECEIVED("2010-01-15"; "2022-05-05"; 1000000; 3%) No value is specified for the Basis argument and so the default value of 0 (12 months of 30 days each) is applied. Here the function calculates the amount received at maturity for a security with the specified characteristics and returns a value of approximately 1585204.76 currency units. 1,585,204.75561427
    =RECEIVED(DATE(2010; 1; 15); DATE(2022; 5; 5); 1000000; 3%; 3) Here the function calculates the amount received at maturity for the same security as in the previous example, but utilizes the DATE function instead of typing formatted date values and uses the value 3 for the Basis argument. The function returns the value of approximately 1585508.88 currency units. 1,585,508.88319361

    Related LibreOffice functions:

    INTRATE

    YEARFRAC

    ODF standard:

    Section 6.12.43, part 2

    Related (or similar) Excel functions:

    RECEIVED