YIELDMAT Function Explained
The YIELDMAT Function in Microsoft Excel calculates the yield of a security that pays periodic interest. It takes the following arguments: settlement, maturity, issue, rate, price, redemption, frequency, and basis. It returns the yield of the security, expressed as a percentage.
YIELDMAT Function Syntax
YIELDMAT(settlement, maturity, rate, pr, redemption, frequency, [basis])
- settlement: The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
- maturity: The security’s maturity date. The maturity date is the date when the security expires.
- rate: The security’s annual coupon rate.
- pr: The security’s price per $100 face value.
- redemption: The security’s redemption value per $100 face value.
- frequency: The number of coupon payments per year.
- basis: (Optional) The type of day count basis to use. 0 or omitted = US (NASD) 30/360; 1 = Actual/actual; 2 = Actual/360; 3 = Actual/365; 4 = European 30/360.