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)