# TBILLEQ

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## Content



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* | Settlement date for the Treasury bill |
| *mature* | Maturity date for the Treasury bill |
| *discount* | 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. 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.

## Data Types

Accepts numeric and DateTime object data for all arguments. Returns numeric data.

## Examples

`TBILLEQ(A1,B2,C3)`
`TBILLEQ("3/31/2003","6/1/2003",0.0532)` gives the result 0.054437659 (or 5.44%)

## Version Available

This function is available in product version 1.0 or later.

## See Also

[TBILLPRICE](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsTtoZ/FunctionTBILLPRICE) \| [TBILLYIELD](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsTtoZ/FunctionTBILLYIELD) \| [Financial Functions](/spreadnet/docs/latest/online-formula/formulas-overview/formulas-functs/formulas-functtypes/formulas-functsfinance)