Crystal Reports for Eclipse Designer Guide

YieldDisc

Description
YieldDisc returns the yield on a discounted security.
Overloads
  • YieldDisc (settlementDate, maturityDate, price, redemptionValue)
  • YieldDisc (settlementDate, maturityDate, price, redemptionValue, basis)
  • Arguments
  • settlementDate is a Date or DateTime specifying when the security was purchased.
  • maturityDate is a Date or DateTime after the settlement date specifying when the security matures.
  • price is a non-negative number or currency specifying the security's purchase price per $100 of face value.
  • redemptionValue is a number or currency specifying the security's value at redemption per $100 of face value.
  • basis is an optional number specifying the day basis system to use. The following types are supported:
    • 0 - American 30/360 (default)
    • 1 - actual/actual
    • 2 - actual/360
    • 3 - actual/365
    • 4 - European 30/360
  • Returns
    Number value
    Action
    YieldDisc returns the yield on a discounted security. The formula divides the difference between the purchase price and the redemption price by the purchase price. This quotient is converted to an annual rate using the specified basis.
    Examples
    U.S. Treasury bills are purchased on a discounted basis and are redeemed at face value. Suppose that a bill is purchased on July 15, 1999, matures on October 1, 1999 and has a discounted price of $98.64. Using an actual/360 basis for this discounted security, the yield is found using the following formula:
    YieldDisc (DateValue(1999,7,15),DateValue(1999,10,1),98.64,100,2)
    
    Returns 0.0636 (rounded to four decimal places) as the Treasury bill's yield.
    Comments
  • This function is similar to the Excel function of the same name.
  • This function is closely related to the PriceDisc function.



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