Description
YieldMat returns the yield for a security that pays interest at maturity.
Overloads
YieldMat (settlementDate, maturityDate, issueDate, interestRate, price)
YieldMat (settlementDate, maturityDate, issueDate, interestRate, price, 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.
issueDate is a
Date or
DateTime specifying when the security was issued.
interestRate is a non-negative number specifying the interest rate for the security.
price is a non-negative number or currency specifying the security's purchase price 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)
Action
YieldMat returns the yield for a security that pays interest at maturity.
Examples
Suppose a $150,000 Certificate of Deposit pays interest of 4.3%, and at maturity it has a price of $150,162.66. If the certificate was issued January 1, 2000, purchased on March 4, 2000 and had a maturity date of July 31, 2000, then the following formula, using the 30/360 basis, can be used to calculate the yield.
YieldMat (DateValue(2000,3,4), DateValue(2000,7,31), DateValue(2000,1,1), 0.043, 150162.66/150000*100)
Returns 0.0400 (rounded to four decimal places) as the certificate's yield. The price has to be specified on a per $100 of face value basis. Note that this is the reverse operation of PriceMat.
Comments
This function is similar to the Excel function of the same name.