Description
TBillYield returns a number representing the yield on a Treasury bill.
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. Treasury bills typically have maturities of 90 days, 182 days and 52 weeks.
price is a positive number or currency specifying the purchase price for a Treasury bill per $100 of par value.
Action
TBillYield returns a number representing the yield on a Treasury bill. This is the amount the Treasury bill returns, as a percentage of the purchase price annualized using an actual/360 basis.
Examples
If a $10,000 T-Bill was purchased on February 15, 2000, with a maturity date of July 1, 2000, at a purchase price of $9,850.00, the yield on this investment is:
TBillYield(DateValue(2000,2,15),DateValue(2000,7,1),98.50)
Returns 0.0400 (rounded to four decimal places). The purchase price of $9,850 had to be divided by (100/10000) to get the price per $100. The return, in this case, is $1.50 per $100 and the investment is held for 137 days of the 360-day year. The value returned is (1.5/98.50)/(137/360).
Comments
This function is similar to the Excel function of the same name.