Talk:Documentation/Calc Functions/PRICE

SF Comments

 * (1) Summary. Suggest the following replacement text – “Calculates a quoted price for a fixed interest security, per 100 currency units of face (par) value. The value calculated represents a quoted price for the security (the ‘clean’ price) - the price actually paid (the ‘dirty’ price) would normally be greater because it includes accrued interest”.
 * (2) Returns. Insert “an” before “interest”. Maybe mention that the result is in currency units.
 * (3) Arguments, Settlement. Suggest changing “date of purchase” to “settlement / purchase date”.
 * (4) Arguments, Maturity. Suggest replacing “date on which the security matures (expires)” with “maturity / redemption date of the security”.
 * (5) Arguments, Rate. Presumably expressed as either a percentage or a decimal fraction.
 * (6) Arguments, Yield. After “annual yield of the security” add “(compounded at each interest payment)”. Presumably expressed as either a percentage or a decimal fraction.
 * (7) Arguments, Frequency. I do not think the table, and the values therein, add anything and I would delete it.
 * (8) Arguments, Basis. Please update to address comments on other instances of this argument.
 * (9) Arguments, 2nd bullet. Change “valid dates” to “a valid date”. Change “an” to “a”. Insert space before open round bracket.
 * (10) Arguments, 3rd bullet. Insert “the” before “Settlement”. Settlement = Maturity should, and does, give an error.
 * (11) Arguments, 4th bullet. Rate = 0 should not, and does not, give an error.
 * (12) Arguments, 6th bullet. Suggest the following re-word for better grammar – “If either Frequency or Basis is a non-integer value, then the function uses its floor value, i.e. it is truncated to an integer value.”.
 * (13) Arguments, 7th bullet. Insert space before “2”.
 * (14) Arguments, 8th bullet. I would remove the text in brackets as it does not really add anything.
 * (15) Additional details. Suggest including links to the Wikipedia pages entitled “Clean price” and “Dirty price”.
 * (16) Additional details. Suggest adding the following high-level formula – “PRICE = Present value of coupon payments + Present value of redemption payment – Accrued coupon interest”.
 * (17) Additional details. I would place the definitions of the variables in the equation on separate lines to increase readability. In the definition of B, insert “date” after “Settlement”. In the definition of C, insert “the” before “Redemption”. In the definition of D, insert “the” before “coupon”.
 * (18) Examples, 1st example. Change “With calculation on basis 3” to “The day count convention, Basis, is 3”. The formula given does not have Basis set to 3.
 * (19) Examples, 2nd example. Change “With calculation on basis 0 by default” to “The day count convention, Basis, is 0 by default”.
 * (20) Examples, 4th example. Insert “the” before “Settlement”.

--Stevefanning (talk) 2020-11-24T19:37:26 (UTC)