DURATION

DURATION

Synopsis

DURATION(settlement,maturity,coup,yield,frequency[,basis])

Description

DURATION calculates the duration of a security.

settlement is the settlement date of the security.

maturity is the maturity date of the security.

coup The annual coupon rate as a percentage.

yield The annualized yield of the security as a percentage.

frequency is the number of coupon payments per year. Allowed frequencies are: 1 = annual, 2 = semi, 4 = quarterly. 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 frequency is other than 1, 2, or 4, DURATION returns #NUM! error.
  • If basis is omitted, US 30/360 is applied.
  • If basis is not in between 0 and 4, #NUM! error is returned.

Examples

See also

G_DURATION, MDURATION.