TBILLYIELD


Returns the yield for a US Treasury bill.

Syntax:

TBILLYIELD(settlementdate, maturitydate, issueprice)

settlementdate: the settlement (purchase) date of the Treasury bill.
maturitydate: the maturity (redemption) date of the Treasury bill.
issueprice: the issue price of the Treasury bill per $100 of par value.
A Treasury bill is a short term (up to a year) Government security, sold at a discount to its par value (face value). It pays no interest and is redeemed at par value.
The Treasury bill here has a 360 day year basis.
The yield is calculated as:
( (100 - issueprice) / issueprice ) * (360 / number_of_days_in_the_term)
where number_of_days_in_the_term are the actual number of days between settlementdate and maturitydate.

An error results if the term given is not less than one year.

Example:

TBILLYIELD("2008-07-14", "2009-01-14", 96)
returns approximately 0.0829, or 8.29%.






 
Created with Zapof