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Financial function
YIELDDISC
Returns the annual yield for a discounted security, like a zero-coupon bond.
Rarely usedDifficulty 1550 · AdvancedUsage rank #458 of 520
When to use it
The annual yield of a discounted security, based on its price.
The shape of it
- Syntax
=YIELDDISC(settlement, maturity, pr, redemption, [basis])
Worked examples
Short paper
=YIELDDISC(DATE(2008,2,16),DATE(2008,3,1),99.795,100,2) → 5.28%
Two weeks of paper at 99.795.
Half year
=YIELDDISC(DATE(2025,1,1),DATE(2025,7,1),97.5,100) → 5.13%
Half a year, 30/360.
One year
=YIELDDISC(DATE(2025,1,1),DATE(2026,1,1),95,100) → 5.26%
A full year.
Worth knowing
- Yield = (redemption - price)/price × year/days.
- Higher than DISC on the same paper because the base is the price.
- PRICEDISC gives the price from the discount rate.
Where it goes wrong
- #NUM! for a non-positive price.
- Text dates return #VALUE!.
Related
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