Calculates the amount received that is paid for a fixed-interest security at a given point in time.
RECEIVED(Settlement; Maturity; Investment; Discount; Basis)
Settlement is the date of purchase of the security.
Maturity is the date on which the security matures (expires).
Investment is the purchase sum.
Discount is the percentage discount on acquisition of the security.
Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.
|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|
Settlement date: February 15 1999, maturity date: May 15 1999, investment sum: 1000 currency units, discount: 5.75 per cent, basis: Daily balance/360 = 2.
The amount received on the maturity date is calculated as follows:
=RECEIVED("1999-02-15";"1999-05-15";1000;0.0575;2) returns 1014.420266.