YIELD function
Returns the yield on a security that pays periodic interest
Syntax
YIELD(settlement, maturity, rate, pr, redemption, frequency, [basis])Square brackets indicate optional arguments.
Arguments
| Argument | Required | Meaning |
|---|---|---|
| settlement | Yes | The security's settlement date."2008-11-11" |
| maturity | Yes | The security's maturity date."2021-3-1" |
| rate | Yes | The security's interest rate.7.85% |
| pr | Yes | The security's price per $100 face value.98.45 |
| 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.1 |
Try YIELD
Recover the annual yield from a clean bond price
=YIELD(A2,B2,C2,E2,100,2,0)The supplied clean price is the present value of 3,3,3,103 discounted at 2% each half-year. YIELD solves for the periodic discount rate and expresses it as an annual rate at frequency 2: 4%. This fixed-cash-flow example settles on a coupon date; between-coupon pricing also needs accrued interest and day-count rules.
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.
YIELD · top-level call
=YIELD(A2,B2,C2,E2,100,2,0)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.
Practice a complete task
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.