August 2000
Beginner to intermediate
608 pages
17h 15m
English
Content preview from Excel 2000 in a Nutshell
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Name
YIELD
Synopsis
You can use YIELD (an Analysis ToolPak function) to determine the interest earned (yield) on a security. This function can only be used with a security that pays interest on a set schedule, such as monthly or annually.
To Calculate
=YIELD(Settlement,Maturity,Rate,PR,Redemption,Frequency,Basis)
The Basis argument is the only optional
argument. All other arguments must have values.
Note
If the last period of the security is either longer or shorter than the other periods, you need to use the ODDLYIELD function to calculate the yield. If the first period is longer or shorter, use the ODDFYIELD function.
-
Rate Specifies a numeric value that represents the annual coupon rate for the security. For example, if the security has a coupon rate of 9% the value of this argument is
0.09.
Example
Figure 12-28 illustrates how YIELD can be used to determine the yield (interest paid) on a security. This example also compares the results of YIELD with YIELDDISC and YIELDMAT.
Figure 12-28. YIELD, YIELDDISC, and YIELDMAT should be used with securities that have consistent coupon payments
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