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Microsoft® Excel® 2010 Formulas & Functions Inside Out by Helmut Reinke Egbert Jeschke Sara Unverhau, Eckehard Pfeifer, Bodo Fienitz, and Jens Bock

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ODDLYIELD()

Syntax. ODDLYIELD(Settlement,Maturity,Last_Interest,Rate,Price,Redemption, Frequency,Basis)

Definition. This function calculates the yield of a fixed-interest security in a final interest period whose length is different from the regular interest periods in the past. Compound interest is not taken into consideration.

Arguments

  • Settlement (required) The date when the loan becomes the property of the purchaser.

  • Maturity (required) The date when the repayment of the certified amount takes place.

  • Last_Interest (required) The date of the final (regular) interest payment before the purchase date.

  • Rate (required) The nominal yield (annual interest rate) of the bond.

  • Price (required) The price of the security on the day of settlement as a percentage; ...

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