If a bond pays interest at maturity, the YIELDMAT function calculates the annual yield of the bond. It is the Financial function and first introduced in the Excel 2007 version.
YIELDMAT(settlement, maturity, issue, rate, pr, [basis])
settlement – Required. The date on which the bond is traded to the buyer. The bond’s settlement date.
maturity – Required. The expiry date of the bond.
issue – Required. The issue date of the bond.
rate – Required. The interest rate of the bond at the date of issue.
pr – Required. The security’s price per $100 face value.
[basis] – Optional. The day count basis to be used in the calculation. If omitted, Excel will use 0.
|Basis||Day count basis|
|0 or omitted||US (NASD) 30/360|
To change the format into a percentage, press Alt, H then P.
For more example and detail on the function, use the Microsoft Office website.
|#VALUE!||If dates are not valid.|
|#NUM!||If rate < 0 or if pr ≤ 0.|
|If settlement ≥ maturity.|
|If basis < 0 or if basis > 4.|