Spread Formula Reference
Formula Functions / Functions M to Q / MDURATION
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    This function calculates the modified Macauley duration of a security with an assumed par value of $100.




    This function has these arguments:

    Argument Description
    settlement Settlement date for the security
    maturity Maturity date for the security
    coupon Annual coupon rate
    yield Annual yield for the security
    frequency Frequency of payment, number of coupon payments per year; must be 1, 2, or 4
    basis [Optional] Integer representing the basis for day count (Refer to Day Count Basis.)


    This function returns a #VALUE! error when settlement or maturity is invalid or a #NUM! error when frequency is a number other than 1, 2, or 4. If coupon is less than 0 or yield is less than 0, a #NUM! error is returned. If basis is less than 0 or greater than 4, a #NUM! error is returned. If settlement is greater than or equal to maturity, a #NUM! error is returned.

    Data Types

    Accepts numeric and DateTime object data. Returns numeric data.



    Version Available

    This function is available in product version 2.0 or later.

    See Also

    DURATION | Financial Functions