Talk:Documentation/Calc Functions/TBILLPRICE
SF Comments
- (1) Summary. Suggest replacing with the following – “Calculates the issue price for a US Treasury bill, per 100 currency units par value (face value), given a discount rate”.
- (2) Returns. Suggest replacing with the following – “Returns a real number (in currency units) which is the issue price for a US Treasury bill per 100 currency units par value, for the given arguments.”.
- (3) Arguments, Settlement. Change “date of purchase of the security” to “settlement / purchase date of the Treasury bill”.
- (4) Arguments, Maturity. Change “date on which the security matures (expires)” to “the maturity / redemption date of the Treasury bill”.
- (5) Arguments, Discount. Change “discount of security” to “discount rate of the Treasury bill, expressed”. Insert “decimal” before “fraction”.
- (6) Arguments, 1st bullet. Suggest replacing with “If either Settlement or Maturity is not a valid date then the function returns a value (#VALUE!) error”.
- (7) Arguments, 2nd bullet. Insert “the” before “Settlement”.
- (8) Additional details. Suggest adding link to the Wikipedia page at https://en.wikipedia.org/wiki/United_States_Treasury_security#Treasury_bill.
- (9) Additional details. Suggest including the following paragraph – “A US Treasury bill (often shortened to T-bill) is a short term (up to a year) government security, sold at a discount to its par value (face value). It pays no interest and is redeemed at par value. The Treasury bill has a 360-day year basis.”.
- (10) Additional details. I have checked the code and the equation for this function is TBILLPRICE = 100 x (1 – (Discount x DSM)/360) where DSM is defined as for TBILLEQ.
- (11) Additional details. It might be worth including a comment that the underlying formula for this function may not apply to Treasury bills issued by other governments.
- (12) Examples, 1st example. Change “9 per cent” to “9.14 per cent”. Change “price of the treasury bill” to “issue price for a US Treasury bill, per 100 currency units par value,”.
- (13) Examples, 3rd example. Insert “the” before “Settlement”.
- (14) ODF standard section. The ODF states that the maturity date should be less than one year beyond the settlement date. However this limitation is not enforced in the code – try, for example, the formula =TBILLPRICE("1999-03-31","2001-06-01", 0.0914). This formula produces a numeric answer in Calc but generates an error in Excel. We perhaps ought to note this discrepancy and, when I get a chance, I will raise a bug.
--Stevefanning (talk) 2020-11-27T15:34:05 (UTC)