Documentation/Calc Functions/YIELDDISC

From The Document Foundation Wiki
Jump to: navigation, search

Function name:

YIELDDISC

Category:

Financial Analysis

Summary:

Calculates the annual yield of non-interest-bearing security.

Syntax:

YIELDDISC(Settlement; Maturity; Price; Redemption[; Basis])

Returns:

Returns a real number (expressed as a percentage or fraction) which is the yield of a discounted security per 100 currency units of face value.

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).

Price is a positive real number or a reference to a cell containing that number which is the price (purchase price) of the security per 100 currency units of par value.

Redemption is a positive real number or a reference to a cell containing that number which is the redemption value per 100 currency units of par value.

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.

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, i.e. Actual/actual.
2 Exact number of days in month, year has 360 days, i.e. Actual/360.
3 Exact number of days in month, year has 365 days, i.e. Actual/365.
4 European method, 12 months of 30 days each, i.e. 30/360.


  • If Price less than or equal to 0 then the function returns an error value.
  • 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 Redemption is less than or equal to 0 then the function returns an error value.
  • If Basis is a non-integer value, then the function uses its floor value, i.e. it is truncated to an integer value.
  • After truncation if Basis is any number except 0,1,2,3,4 or missing (passed as empty argument or not passed at all),then the function will return an error value.

Additional details:

  • The formula for YIELDDISC is:
Yielddisc.png

Examples:

Formula Description Returns
=YIELDDISC("1999-02-15"; "1999-03-01"; 99.795; 100; 2) A non-interest-bearing security is purchased on 1999-02-15. It matures on 1999-03-01. The price is 99.795 currency units per 100 units of par value, the redemption value is 100 units. The basis is 2. The function calculates how high is the yield. 0.05282257198686 or 5.28%
=YIELDDISC("1999-02-15"; "1999-03-01"; 99.795; 100) A non-interest-bearing security is purchased on 1999-02-15. It matures on 1999-03-01. The price is 99.795 currency units per 100 units of par value, the redemption value is 100 units. The basis is 0 (by default). The function calculates how high is the yield. 0.046219750488503 or 4.62%
=YIELDDISC("1999-02-15.05"; "1999-03-01"; 99.795; 100; 2) The function returns an error value if either Settlement or Maturity are not valid dates. #VALUE!
=YIELDDISC("2008-02-15"; "1999-03-01"; 99.795; 100; 2) The function returns an error when Settlement date is after the Maturity date. Err:502

Related LibreOffice functions:

PRICEDISC

YIELD

YIELDMAT

YEARFRAC

ODF standard:

Section 6.12.54, part 2

Equivalent Excel functions:

YIELDDISC