Documentation/Calc Functions/TBILLEQ

From The Document Foundation Wiki
Jump to navigation Jump to search


Function name:

TBILLEQ

Category:

Financial Analysis

Summary:

Calculates the annual return on a treasury bill. A treasury bill is purchased on the settlement date and sold at the full par value on the maturity date, which must fall within the same year. A discount is deducted from the purchase price.

Syntax:

TBILLEQ(Settlement; Maturity; Discount)

Returns:

Returns a real number (expressed as a percentage or fraction) which is the bond-equivalent yield for a treasury bill.

Arguments:

Settlement is a date or a reference to a cell containing that date which is the date of purchase of the security.

Maturity is a date or a reference to a cell containing that date which is the date on which the security matures (expires).

Discount is a positive real number or a reference to the cell containing that number which is the discount of security as a percentage or fraction.

  • If either Maturity or Settlement is not valid dates then the function returns an value(#VALUE!) error.
  • If Settlement date is after the Maturity date then the function returns an error value.
  • If Discount is less than or equal to 0 then the function returns an error value.

Additional details:

  • The formula for TBILLEQ is:
Tbiellq.png

where DSM is the number of days between settlement and maturity computed according to the 360 days per year basis (Basis 2)

  • Basis is a positive integer from 0 to 4 or a reference to a cell containing that integer which is chosen from a list of options and indicates how the year is to be calculated. For more 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.


Examples:

Formula Description Returns
=TBILLEQ("1999-03-31";"1999-06-01"; 0.0914) Settlement date: March 31 1999, maturity date: June 1 1999, discount: 9.14 per cent. The function calculates the return on the treasury bill corresponding to a security. 0.094151493565943 or 9.42%
=TBILLEQ("1999-02-15.05"; "1999-03-01"; 0.0525) The function returns an error value if either Settlement or Maturity are not valid dates. #VALUE!
=TBILLEQ("2008-02-15"; "1999-03-01"; 0.0525) The function returns an error when Settlement date is after the Maturity date. Err:502

Related LibreOffice functions:

TBILLPRICE

TBILLYIELD

ODF standard:

Section 6.12.47, part 2

Equivalent Excel functions:

TBILLEQ