 | TBILLPRICE function |
Returns the price per $100 face value for a Treasury bill.
Syntax
TBILLPRICE(settlement,maturity,discount)
Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use =DATE(2008,5,23) for the 23rd day of May, 2008. Problems might occur if dates are entered as text.
Argument | Description | Remarks |
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settlement | The Treasury bill's settlement date. The security settlement date is the date after the issue date when the Treasury bill is traded to the buyer. |
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maturity | The Treasury bill's maturity date. The maturity date is the date when the Treasury bill expires. |
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discount | The Treasury bill's discount rate. |
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General remarks
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Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900.
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TBILLPRICE is calculated as follows:
Where:
DSM = number of days from settlement to maturity, excluding any maturity date that is more than one calendar year after the settlement date.
Example
To make the following example easier to understand, you can copy the data to a blank sheet and then enter the function underneath the data. Do not select the row or column headings (1, 2, 3... A, B, C...) when you copy the sample data to a blank sheet.
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