The TBILLPRICE function calculates the price per $100 face value for a Treasury bill. The function arguments are:
settlement |
is the settlement date of the Treasury bill, expressed as a date code |
maturity |
is the maturity date of the Treasury bill, expressed as a date code |
discount |
is the discount rate of the Treasury bill |
TBILLPRICE is calculated using the formula:
100 * [1 - (discount * DSM/360)]
where DSM is the number of days from the settlement to the maturity date.
The maturity date should not be more than 1 calendar year after the settlement date, otherwise an error message is returned.
For example, a Treasury bill has settlement date 10th May, 1997 and maturity date 1st November, 1997. The discount rate is 7%. The formula
TBILLPRICE(35559, 35734, 0.07)
returns a price of $96.60.
See also: