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TBILLEQ

This function returns the equivalent yield for a Treasury bill (or T-bill).

Syntax

TBILLEQ(settle, mature, discount)

Arguments

This function has these arguments:

Argument

Description

settle

[Required] Settlement date for the Treasury bill

mature

[Required] Maturity date for the Treasury bill

discount

[Required] Discount rate for the Treasury bill

Remarks

This function returns a #VALUE! error when settle or mature is invalid. Settle and mature are truncated to integers.

The function returns an error in the following cases:

  • If discount is less than or equal to 0, a #NUM! error is returned.

  • If settle is greater than mature or if mature is more than one year after settle, a #NUM! error is returned.

This function is calculated as (365 x rate)/(360-(rate x DSM)), where DSM is the number of days between settle and mature computed according to the 360 days per year basis.

Examples

TBILLEQ(A1,B2,C3)

TBILLEQ("3/31/2003","6/1/2003",0.0532) gives the result 0.054437659