# YIELD

## Content

This function calculates the yield on a security that pays periodic interest.

## Syntax

`YIELD(settle, maturity, rate, price, redeem, frequency, [basis])`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *settle* | [Required] Settlement date for the security |
| *maturity* | [Required] Maturity date for the security |
| *rate* | [Required] Annual coupon rate |
| *price* | [Required] Price per $100 face value for the security |
| *redeem* | [Required] Redemption value per $100 face value |
| *frequency* | [Required] Frequency of payment, number of coupon payments per year; must be 1, 2, or 4 |
| *basis* | [Optional] Integer representing the basis for day count |

## Remarks

This function returns a #VALUE! error when *settle* or *maturity* is invalid. A #NUM! error is returned if *frequency* is a number other than 1, 2, or 4.

* If *rate* is less than 0, a #NUM! error is returned.
* If *price* or redeem is less than or equal to 0, a #NUM! error is returned.
* If *basis* is less than 0 or greater than 4, a #NUM! error is returned.
* If *settle* is greater than or equal to maturity, a #NUM! error is returned.

*Settle*, *maturity*, *frequency*, and *basis* are truncated to integers.

## Examples

`YIELD(A1,A2,A3,A4,A5,A6,A7)`