TBILLEQ Function Explained
The TBILLEQ Function in Microsoft Excel returns the T-Bill equivalent yield for a given price, maturity, and frequency. It takes three arguments: settlement, maturity, and discount. The settlement argument is the security’s settlement date, the maturity argument is the security’s maturity date, and the discount argument is the security’s discount rate.
TBILLEQ Function Syntax
TBILLEQ(settlement, maturity, discount, [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.
- discount: The security’s discount rate.
- basis: [Optional] The type of day count basis to use. The default is 0 (or omitted).