DISC

DISC

Synopsis

DISC(settlement,maturity,par,redemption[,basis])

Description

DISC calculates and returns the discount rate for a security. settlement is the settlement date of the security.

maturity is the maturity date of the security. par is the price per $100 face value of the security. redemption is the redemption value per $100 face value of the security.

basis is the type of day counting system you want to use:

0 US 30/360

1 actual days/actual days

2 actual days/360

3 actual days/365

4 European 30/360

  • If settlement date or maturity date is not valid, DISC returns #NUM! error.
  • If basis is omitted, US 30/360 is applied.
  • If basis < 0 or basis > 4, DISC returns #NUM! error.
  • If settlement date is after maturity date or they are the same, DISC returns #NUM! error.

Examples

See also