Crystal Reports for Eclipse Designer Guide

Yield

Description
Yield returns the yield for a security that pays interest periodically.
Overloads
  • Yield (settlementDate, maturityDate, couponRate, price, redemptionValue, frequency)
  • Yield (settlementDate, maturityDate, couponRate, price, redemptionValue, frequency, 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.
  • couponRate 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.
  • redemptionValue is a number or currency specifying the security's value at redemption per $100 of face value.
  • frequency is a number specifying the number of coupons per year. The supported values are 1 (annual payments), 2 (semiannual payments), and 4 (quarterly).
  • 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
    Yield returns the yield for a security that pays interest periodically. Interest is accrued daily when there is one or fewer payment periods left until maturity after the settlement date.
    Examples
    Suppose a municipal bond is purchased on March 1, 1999 with a maturity date of January 1, 2005. The interest rate is 6.7% and the purchase price is $100.96 per $100 par value. At redemption, the face value of the bond is returned for a value of $100 and interest is paid out quarterly and a 30/360 basis is used.
    Yield(DateValue(1999,3,1),DateValue(2005,1,1),0.067,100.96,100,4,0)
    
    Returns 0.0650 (rounded to four decimal places) as the bond's yield. Note that this is the reverse operation of Price.
    Comments
  • This function is similar to the Excel function of the same name.
  • When multiple coupon periods occur between the settlement date and maturity, Crystal Reports uses an iterative technique to calculate the price, using the formula for Price. A value for the yield is guessed and the price is calculated. The calculated price is compared to the specified price and a new yield is estimated. This process is repeated until the price calculated equals the specified price.



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