Calculates the annual yield of a security, the interest of which is paid on the date of maturity.
YIELDMAT(Settlement; Maturity; Issue; Rate; Price; Basis)
Settlement is the date of purchase of the security.
Maturity is the date on which the security matures (expires).
Issue is the date of issue of the security.
Rate is the interest rate of the security on the issue date.
Price is the price (purchase price) of the security per 100 currency units of par value.
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|
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 0. How high is the yield?
=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 0) returns 0.060954 or 6.0954 per cent.