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 Microsoft Excel > Functions > Financial > YIELDMAT
 

YIELDMAT(settlement, maturity, issue, rate, pr, basis)

 
 Returns the annual yield of a security that pays interest at maturity.

 settlementThe settlement date of the security.
 maturityThe maturity date of the security.
 issueThe issue date of the security.
 rateThe security's interest rate at date of issue.
 prThe price per $100 face value.
 basisThe type of day counting to use.
0 = US 30/360
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

 REMARKS
 
  		• This function is only available if you have the Analysis ToolPak add-in installed.
     
  		• The settlement date is the date a buyer purchases a coupon, such as a bond.
     
  		• The maturity date is the date when a coupon expires.
     
  		• The "settlement", "maturity", "issue", and "basis" are truncated to integers.
     
  		• If "settlement", "maturity", or "issue" is not a valid date, then #NUM! is returned.
     
  		• The "issue" should be expressed as a serial number.
     
  		• If "rate" < 0, then #NUM! is returned.
     
  		• If "pr" <= 0, then #NUM! is returned.
     
  		• If "basis" < 0, then #NUM! is returned.
     
  		• If "basis" > 4, then #NUM! is returned.
     
  		• If "settlement" >= "maturity", then #NUM! is returned.
     
  		• Example 1 - Suppose we have a 30-year bond is issued on January 1, 1996, and is purchased by a buyer six months later. The issue date would be January 1, 1996, the settlement date ould be July 1, 1996, and the maturity date would be January 1, 2026, which is 30 years after the January 1, 1996, issue date.

     EXAMPLES
     
     A
    1=YIELDMAT("3/15/1999","11/3/1999","11/8/1998",0.0625,100.0123,0) = #VALUE!
    		 
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