The PRICEMAT function calculates the price per $100 face value of a security (e.g. a bond) that pays interest at maturity.
PRICEMAT(settlement, maturity, issue, rate, yld, [basis])
The PRICEMAT function has the following arguments:
settlement date – Required. It is the date on which the security is purchased by the buyer.
maturity date – Required. The date on which the security will expire. The maturity date of the security.
issue – Required. The security’s issuance date.
rate – Required. The rate of interest at the issuance date.
yld – Required. The annual yield of the security.
[basis] – Optional. The day count basis to be used in the calculation. If omitted, Excel uses 0 i.e. US (NASD) 30/360. Use the below table to select an optional of your choice.
|Basis||Day count basis|
|0 (zero) or omitted||US (NASD) 30/360|
For example, suppose a 10-year bond is issued on January 01, 2019. The rate of interest at the issuance date is 6% and the annual yield is 4.5%. if you purchased the bond six months later. The issue date would be January 01, 2019, the settlement date would be July 01, 2019 and the maturity date would be January 01, 2029.
Result. The bond with above specified arguments has the price of 109.084.
|#VALUE!||If any supplied date is invalid.|
|#NUM!||If the supplied interest rate or annual yield is smaller than zero.|
|#NUM!||If the supplied [basic] argument is smaller than zero and greater than 4.|
|#NUM!||If the settlement date is equal to or after the maturity date.|
PRICEDISC function calculates the price per $100 face value of a discounted security.
PRICE function calculates the price per $100 face value of a security that pays periodic interest.
TBILLPRICE function calculates the price of a Treasury bill.
DOLLARDE function converts a dollar price, expressed as a fraction, into a dollar price, expressed as a decimal number.