Crystal Reports for Eclipse Designer Guide

TBillPrice (settlementDate, maturityDate, discountRate)

Description
TBillPrice returns a currency representing the current price per $100 face value of a Treasury bill given the discount rate.
Arguments
  • settlementDate is a Date or DateTime specifying when the Treasury bill was purchased.
  • maturityDate is a Date or DateTime after the settlement date specifying when the Treasury bill matures.
  • discountRate is a positive number specifying the discount rate for the Treasury bill.
  • Returns
    Currency value
    Action
    TBillPrice returns a currency representing the current price per $100 face value of a Treasury bill given the discount rate. The discount rate is a calculation based on the return on investment and the length of time between settlement and maturity. This function works this relation in reverse, calculating $100 minus the return on investment given the discount rate. Treasury bills use an actual/360 basis.
    Examples
    If a T-Bill was purchased on February 15, 2000 with a maturity of July 1, 2000, at a discount rate of 8.5%, the purchase price is found by:
    TBillPrice(DateValue(2000,2,15),DateValue(2000,7,1),0.085)
    Returns $96.77 (rounded to the nearest cent).
    Comments
  • This function is similar to the Excel function of the same name.
  • The functions DISC and TBillPrice are inverse relations. The discount rate DISC using the price returned by TBillPrice, a redemption value of $100 and using a basis of 2 (actual/360) is the same discount rate entered in the TBillPrice function. That is, r=DISC(a,b,TBillPrice(a,b,r),100) where a and b are dates and r is the discount rate.



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