ODDLYIELD function
Returns the yield of a security with an odd last period
Syntax
ODDLYIELD(settlement, maturity, last_interest, rate, pr, redemption, frequency, [basis])Square brackets indicate optional arguments.
Arguments
| Argument | Required | Meaning |
|---|---|---|
| settlement | Yes | The security's settlement date."2008-4-20" |
| maturity | Yes | The security's maturity date."2008-6-15" |
| last_interest | Yes | The security's last coupon date."2007-12-24" |
| rate | Yes | The security's interest rate.3.75% |
| pr | Yes | The security's price.99.875 |
| redemption | Yes | The security's redemption value per $100 face value.100 |
| frequency | Yes | The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.2 |
| basis | No | The type of day count basis to use.0 |
Try ODDLYIELD
Recover yield from a short last coupon price
=ODDLYIELD(A2,B2,C2,D2,A4,100,2,0)The last coupon period has 90 days: its interest is 3*90/180=1.5 per 100 face value. Settlement accrues 30 days (0.5 interest) and leaves 60 days. Divide the terminal 101.5 by 1+4%/2*60/180, then subtract 0.5 accrued interest. Basis 0 is US 30/360 and frequency 2 is semiannual. Dates are Excel serials. These are synthetic teaching terms, not market quotes. Recover the annual yield of 4% from the independently calculated clean price.
Inspect the current formula
Read its written arguments or observe actual operation values in a separate local calculation. This action neither applies a draft nor grades an answer.
Read the formula, one argument at a time
Explore the written function calls and their inputs. The calculation result belongs to the complete formula.
ODDLYIELD · top-level call
=ODDLYIELD(A2,B2,C2,D2,A4,100,2,0)Follow the cells behind a result
Read explicit local references and helper formulas using a separate calculation. Your draft stays in this field; the worksheet and practice checks do not change.
The worksheet runs locally. Published checks apply to the supplied example only. Native Excel and Google Sheets compatibility remain unverified.
Reference and compatibility
Univer 1.0.4 / Apache-2.0. Calculation checks cover the supplied examples only. The browser worksheet does not implement every Excel feature, external service or connected data type.