# Documentation/Calc Functions/YIELDMAT

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## Function name:

YIELDMAT

## Category:

Financial Analysis

## Summary:

Calculates the annual yield of a security, the interest of which is paid on the date of maturity.

## Syntax:

YIELDMAT(**Settlement**; **Maturity**; **Issue**; **Rate**; **Price**[; **Basis**])

## Returns:

Returns a real number (expressed as a percentage or fraction) which is the value of a security per 100 currency units of face value. The security has an irregular first interest date.

## 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).

**Issue** is a date or a reference to a cell containing that date which is the date of issue of the security.

**Rate** is a non-negative real number (expressed as a percentage or fraction) or a reference to a cell containing that number which is the annual rate of interest (coupon interest rate).

**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.

**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. |

- 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
**Rate**is less than 0 then the function will return 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:

None

## Examples:

Formula | Description | Returns |
---|---|---|

=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) | A security is purchased on 1999-03-15. It matures on 1999-11-03. The issue date was 1998-11-08. The rate of interest is 6.25%, the price is 100.0123 units. The basis is 2. The function calculates how high is the yield. | 0.060958410901095 or 6.10% |

=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123) | A security is purchased on 1999-03-15. It matures on 1999-11-03. The issue date was 1998-11-08. The rate of interest is 6.25%, the price is 100.0123 units. The basis is 2. The function calculates how high is the yield. | 0.060954333691539 or 6.10% |

=YIELDMAT("1999-03-15.05"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) | The function returns an error value if either Settlement or Maturity are not valid dates. |
#VALUE! |

=YIELDMAT("2000-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 2) | The function returns an error when Settlement date is after the Maturity date. |
Err:502 |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

YIELDMAT