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.
TBILLEQ(Settlement; Maturity; Discount)
Returns a real number (expressed as a percentage or fraction) which is the bond-equivalent yield for a treasury bill.
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.
- The formula for TBILLEQ is:
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.
|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.|
|=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:
Equivalent Excel functions: