Microsoft® Excel® 2010 Formulas & Functions Inside Out

TBILLPRICE()

Syntax. TBILLPRICE(Settlement,Maturity,Discount)

Definition. This function returns the price of a discounted security as a percent, as if the par value was 100 monetary units. It is used for U.S. treasury bills.

Arguments

• Settlement (required) The date when the ownership of the security changes

• Maturity (required) The date of the repayment of the certified par value

• Discount (required) The percent disagio of the par value of the security

There are the following requirements:

• Settlement and Maturity require a date specification without a time: decimal places are truncated. Invalid date specifications return the #VALUE! error.

• If Discount is not positive, TBILLPRICE() returns the #NUMBER! error.

• The same error is generated if the settlement ...