Function Type: Financial
Description:
Returns the Macauley modified duration for a security with an assumed par value of $100.
Function Structure:
=MDURATION(settlement, maturity, coupon, yld, frequency, [basis]).
Argument Breakdown:
settlement – This is the settlement date of the security after the issue date when the security is traded to the buyer.
maturity – This is the maturity date of the security or the date when the security expires.
coupon – The annual coupon rate.
yld – This is the annual yield of the security.
frequency – This is the number of coupon payments per year.
basis – This is the type of day count basis to use.
Example:
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