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Formula Functions / Functions T to Z / TBILLEQ
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    TBILLEQ
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    This function returns the equivalent yield for a Treasury bill (or T-bill).

    Syntax

    TBILLEQ(settle,mature,discount)

    Arguments

    This function has these arguments:

    Argument Description
    settle Settlement date for the Treasury bill
    mature Maturity date for the Treasury bill
    discount Discount rate for the Treasury bill

    Remarks

    This function returns a #VALUE! error when settle or mature is invalid. Settle and mature are truncated to integers. If discount is less than or equal to 0, a #NUM! error is returned. If settle is greater than mature or if mature is more than one year after settle, a #NUM! error is returned. This function is calculated as (365 x rate)/(360-(rate x DSM)), where DSM is the number of days between settle and mature computed according to the 360 days per year basis.

    Data Types

    Accepts numeric and DateTime object data for all arguments. Returns numeric data.

    Examples

    TBILLEQ(A1,B2,C3)

    TBILLEQ("3/31/2003","6/1/2003",0.0532) gives the result 0.054437659 (or 5.44%)

    Version Available

    This function is available in product version 1.0 or later.

    See Also

    TBILLPRICE | TBILLYIELD | Financial Functions