Documentation/Calc Functions/DURATION

Function name:
DURATION

Category:
Financial Analysis

Summary:
Calculates the Macaulay duration of a fixed interest security in years.

Syntax:
DURATION(Settlement; Maturity; Coupon; Yield; Frequency[; Basis])

Returns:
Returns a positive real number which is the Macaulay duration of fixed interest security in years.

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).

Coupon is a positive real number or a reference to the cell containing that number which is the annual coupon interest rate (nominal rate of interest).

Yield is a positive real number or a reference to the cell containing that number which is the annual yield of the security.

Frequency is a positive integer or a reference to a cell containing that integer which is the number of interest payments per year (1, 2 or 4).


 * If either Yield or Coupon is less than 0 then the function returns an error value.
 * If either Settlement or Maturity are 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 Frequency, and Basis are non-integer values, then the function uses their floor value, i.e. they are truncated to an integer value.
 * After truncation if Frequency is any number except 1,2 or 4, then the function returns an error value.
 * After truncation if Basis is ny 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

Related LibreOffice functions:
[[Special:MyLanguage/Documentation/Calc_Functions/MDURATION MDURATION]

ODF standard:
Section 6.12.18, part 2

Equivalent Excel functions:
DURATION