Crystal Reports for Eclipse Designer Guide

PriceDisc

Description
PriceDisc returns the price of a discounted security per $100 of face value.
Overloads
  • PriceDisc (settlementDate, maturityDate, discountRate, redemptionValue)
  • PriceDisc (settlementDate, maturityDate, discountRate, 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.
  • discountRate is a positive number specifying the security's discount rate.
  • 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
    Currency value
    Action
    PriceDisc returns the price of a discounted security per $100 of face value. The formula subtracts the discounted amount from the redemption value.
    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, it matures on October 1, 1999 and has a discount rate of 6.3%. Using an actual/360 basis for this discounted security, the price is found using the following formula:
    PriceDisc(DateValue(1999,7,15), DateValue(1999,10,1), 0.063, 100, 2)
    Returns $98.64 (rounded to the nearest cent) as the Treasury bill's price. Since there are 78 days between the settlement and maturity, the discounted amount is 100 x 0.063 x (78/360) = 1.365. This is subtracted from the $100 redemption value to get the answer.
    Comments
    This function is similar to the Excel function of the same name.



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