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DISC

This function calculates the discount rate for security.

Syntax

DISC(settle, mature, pricep, redeem, [basis])

Arguments

This function has these arguments:

Argument

Description

settle

[Required] Settlement date for the security

mature

[Required] Maturity date for the security

pricep

[Required] Amount invested in the security

redeem

[Required] Amount to be received at maturity

basis

[Optional] Integer representing the basis for day count

Remarks

Settle, mature, and basis are truncated to integers.

The function returns an error in the following cases:

  • If settle or mature is not a valid serial date number.

  • If pricep or redeem is less than or equal to 0.

  • If basis is less than 0 or greater than 4.

  • If settle is greater than or equal to mature.

Examples

DISC(A1,B1,C4,100,2)

DISC("3/15/2003","5/15/2003",R3C4,R5C5,4)

DISC("5/15/2004","9/1/2004",98.2,100,3) gives the result 0.0602752294