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Financial function
TBILLPRICE
Returns the price per 100 face value for a Treasury bill.
Rarely usedDifficulty 1500 · AdvancedUsage rank #415 of 520
When to use it
The price per 100 face value of a Treasury bill given its discount rate.
The shape of it
- Syntax
=TBILLPRICE(settlement, maturity, discount)
Worked examples
From a discount rate
=TBILLPRICE(DATE(2008,3,31),DATE(2008,6,1),0.09) → 98.45
A 62-day bill at a 9% discount.
91-day bill
=TBILLPRICE(DATE(2025,1,1),DATE(2025,4,2),0.05) → 98.74
A 91-day bill at 5%.
Six-month bill
=TBILLPRICE(DATE(2025,1,1),DATE(2025,7,1),0.05) → 97.49
A 181-day bill.
Worth knowing
- Price = 100 × (1 - discount × days/360).
- TBILLYIELD reverses it.
- Actual days over 360, always.
Where it goes wrong
- #NUM! when maturity is more than a year out.
- Text dates return #VALUE!.
Related
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