Excel like a finance pro.
Financial function
YIELDMAT
Returns the annual yield of a security that pays interest at maturity.
When to use it
The annual yield of a security that pays interest at maturity, given its price.
The shape of it
- Syntax
=YIELDMAT(settlement, maturity, issue, rate, pr, [basis])
Worked examples
From a price
=YIELDMAT(DATE(2008,3,15),DATE(2008,11,3),DATE(2007,11,8),0.0625,100.0123,0) → 6.10%
A 6.25% note at 100.01.
At par
=YIELDMAT(DATE(2025,1,1),DATE(2026,1,1),DATE(2025,1,1),0.05,100,0) → 5.00%
Bought at par at issue: yield equals rate.
Round trip
=YIELDMAT(DATE(2025,1,1),DATE(2026,1,1),DATE(2025,1,1),0.05,99.06,0) → 6.00%
Reverses the PRICEMAT example.
Worth knowing
- PRICEMAT is the inverse.
- Issue must precede settlement.
- Simple interest, not compounded.
Where it goes wrong
- #NUM! for out-of-order dates or a non-positive price.
- Text dates return #VALUE!.
Related
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