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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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TBILLYIELD()

Syntax. TBILLYIELD(Settlement,Maturity,Pr)

Definition. This function returns the yield of a discounted security as an annual interest rate in arrears. It is used for U.S. treasury bills.

Arguments

  • Settlement (required) The date when the ownership of the security changes

  • Maturity (required) The date of the repayment of the certified par value

  • Pr (required) The price of the security on the day of settlement as a percentage; it must be interpreted as if the par value of the security was 100 monetary units

There are the following requirements:

  • Settlement and Maturity require a date specification without a time; decimal places are truncated. Invalid date specifications return the #VALUE! error.

  • If Pr is not positive, TBILLYIELD() returns the ...

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