# Manuals/calci/YIELD

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**YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)**

- where is security's settlement date (a date when coupon or a bond is purchased),
- is security's maturity date (a date when coupon or a bond expires),
- is security's annual coupon rate,
- is the price per $100 face value,
- is security's redemption value per $100 face value,
- is the number of coupon payments per year, and
- is the type of day count basis to use.
- YIELD(), returns the yield on a security that pays periodic interest.

## Description

YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)

- Yield is the annual percentage return on an investment or security. Yield is the value obtained by dividing Annual Interest by Bond Price.

**Formula**:-

If B= Number of days from beginning of coupon period to settlement date, C= Number of days in coupon period, N= Number of days from settlement date to redemption date

:

- and dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
- If date = date, Calci displays #N/A error message.
- value must be greater than or equal to zero, else Calci displays #N/A error message.
- and values must be greater than zero, else Calci displays #N/A error message.
- The values for should be 1,2 or 4.

For Annual payment, = 1,

For Semi-annual payment, = 2,

For Quarterly payment, = 4.

- value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis | Description |
---|---|

0 | US (NASD) 30/360 |

1 | Actual/actual |

2 | Actual/360 |

3 | Actual/365 |

4 | European 30/360 |

- If value is other than 0 to 4, Calci displays #N/A error message.

## Examples

YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis) function with inputs in order is calculated as follows:

2/2/2008 | |

11/2/2010 | |

5% | |

97 | |

$100 | |

2 | |

0 |

=YIELD(A1,A2,A3,A4,A5,A6,A7) : Calculates the Yield Value with the inputs in the range A1 to A7. Returns6.2%as a result.

=YIELD(DATE(2012,6,10), DATE(2013,6,10), "6%", 98.85, 100, 2) : Calculates the Yield Value with the inputs.

Returns7.21%as a result.

## Related Videos

## See Also

## References