Name
PRICEMAT
Synopsis
PRICEMAT (an Analysis ToolPak function) is designed to allow you to determine the cost of a security that pays interest at maturity. The value returned by the function is based on the cost per $100 of the face value of the security.
To Calculate
=PRICEMAT(Settlement
,Maturity
,Issue
,Rate
,Yld
,Basis
)
The Basis
argument is the only optional
argument. All other arguments must have values.
-
Rate
Specifies a numeric value that represents the annual coupon rate for the security. For example, if the security has a coupon rate of 9% the value of this argument is
0.09
.-
Yld
Indicates the annual yield (interest paid) of the security. The value of the argument should be a numeric value that represents the yield percentage. For example, if the security pays 5% annually, the value of this argument would be
0.05
.
Example
Figure 12-22 illustrates how PRICEMAT is used to determine the cost of a security that pays at maturity.
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