YIELDDISC

Function Type: Financial

Description:

Returns the annual yield for a discounted security; for example, a Treasury bill.

Function Structure:

=YIELDDISC(settlement, maturity, pr, redemption, [basis]).

Argument Breakdown:

settlement – This is the settlement date of the security. It is a date after the security is traded to the buyer – that is, after the issue date.

maturity – This is the maturity date of the security or the date when it expires.

pr – The price of the security per $100 face value.

redemption – This is the redemption value per $100 face value.

basis – Specifies the financial day count basis that is used by the security.

Example:

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