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Microsoft® Excel® 2010 Formulas & Functions Inside Out by Helmut Reinke Egbert Jeschke Sara Unverhau, Eckehard Pfeifer, Bodo Fienitz, and Jens Bock

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YIELD()

Syntax. YIELD(Settlement,Maturity,Rate,Pr,Redemption,Frequency,Basis)

Definition. This function determines the yield of a fixed-interest security (loan).

Arguments

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

  • Maturity (required) The date when the repayment of the loan certified by the security takes place.

  • Rate (required) The agreed-upon annual interest rate as the price for the borrowed money.

  • Pr (required) The price of the security at the day of settlement (without accrued interest).

  • Redemption (required) The percentage of the par value of a security (as if it was 100 monetary units) at which repayment takes place on the day of maturity.

  • Frequency (required) Because it is quite common to have fixed-interest securities ...

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