PRICEDISC

PRICEDISC discounted price

Synopsis

PRICEDISC(settlement,maturity,discount,redemption,basis)

Arguments

settlement: settlement date

maturity: maturity date

discount: annual rate at which to discount

redemption: amount received at maturity

basis: calendar basis

Description

PRICEDISC calculates the price per $100 face value of a bond that does not pay interest at maturity.

Note

If basis is 0, then the US 30/360 method is used. If basis is 1, then actual number of days is used. If basis is 2, then actual number of days is used within a month, but years are considered only 360 days. If basis is 3, then actual number of days is used within a month, but years are always considered 365 days. If basis is 4, then the European 30/360 method is used.

See also

PRICEMAT.