YIELDMAT function

The YIELDMAT function calculates the annual yield of a security paying interest at maturity, based on price.

The YIELDMAT formula is formatted as =YIELDMAT(settlement, maturity, issue, rate, price, [day_count_convention]).

Part

Description

Notes

settlement

The settlement date of the security, the date after issuance when the security is delivered to the buyer.

maturity

The maturity or end date of the security, when it can be redeemed at face or par value.

issue

The date the security was initially issued.

rate

The annualized rate of interest.

price

The price at which the security is bought.

day_count_convention

An indicator of what day count method to use.

Optional - 0 by default.
0 indicates U.S. (NASD) 30/360 - This assumes 30-day months and 360-day years as per the National Association of Securities Dealers standard and performs specific adjustments to entered dates which fall at the end of months.
1 indicates Actual/Actual - This calculates based upon the actual number of days between the specified dates and the actual number of days in the intervening years. Used for U.S. Treasury Bonds and Bills, but also the most relevant for non-financial use.
2 indicates Actual/360 - This calculates based on the actual number of days between the specified dates, but assumes a 360-day year.
3 indicates Actual/365 - This calculates based on the actual number of days between the specified dates, but assumes a 365-day year.
4 indicates European 30/360 - Similar to 0 , this calculates based on a 30-day month and 360-day year, but adjusts end-of-month dates according to European financial conventions.

YIELDMAT(DATE(2010,01,02),DATE(2039,12,31),DATE(2010,01,01),3,100.47)

YIELDMAT(A2,B2,C2,D2,E2,1)

settlement , maturity , and issue should be entered using DATE , TO_DATE , or other date parsing functions rather than by entering text.

PRICEMAT : Calculates the price of a security paying interest at maturity, based on expected yield.

YIELDDISC : Calculates the annual yield of a discount (non-interest-bearing) security, based on price.

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