Function Type: Financial


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.


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