| | | This function is only available if you have the Analysis ToolPak add-in installed. |
| | | This function can be used to calculate the bond yield. |
| | | The "settlement", "maturity", "frequency", and "basis" are truncated to integers. |
| | | If "settlement" or "maturity" is not a valid date, then #NUM! is returned. |
| | | If "settlement" = "maturity", then #NUM! is returned. |
| | | If "rate" < 0, then #NUM! is returned. |
| | | If "pr" = 0, then #NUM! is returned. |
| | | If "redemption" = 0, then #NUM! is returned. |
| | | If "frequency" is any number other than 1, 2, or 4, then #NUM! is returned. |
| | | If "basis" < 0, then #NUM! is returned. |
| | | If "basis" > 4, then #NUM! is returned. |
| | | If "basis" is left blank, then 0 is used. |
| | | If there is more than one coupon period until redemption, YIELD is calculated through a hundred iterations. The resolution uses the Newton method, based on the formula used for the function PRICE. The yield is changed until the estimated price given the yield is close to price. |
