Financial Functions

Its calculates the equivalent annual interest rate (in arrears) for a discounted security (e.g., zero-coupon bond) with intra-year maturity. Syntax INTRATE(Settlement; Maturity; Investment; Repayment; [Basis]) Arguments Argument Description Settlement (required) Purchase date of the security (time truncated). Maturity (required) Maturity/redemption date (time truncated).

Calculates the future value of an initial investment (Principal) after applying a series of variable compound interest rates over successive periods. Syntax FVSCHEDULE(Principal; Schedule) Arguments Principal (required) The initial investment amount. Must be a numeric value. Schedule (required) An array of interest rates for each period (e.g., {0.02, 0.03,

Calculates the future value of an investment or loan based on periodic, constant payments and a constant interest rate. Syntax FV(Rate; Nper; Pmt; [Pv]; [Type]) Arguments Rate (required) The interest rate per period (e.g., 4.5% annual → 4.5%/12 for monthly). Nper (required) The total number of payment periods (e.g., 15 years × 12 months = 180). Pmt (optional)

Calculates the effective annual interest rate (compounded) from a nominal annual rate, accounting for intra-year compounding periods. Syntax EFFECT(Nominal_Interest; Periods) Arguments Nominal_Interest (required) The stated annual nominal interest rate (e.g., 0.05 for 5%). Must be > 0. Periods (required) The number of compounding periods per year

This function calculates the Macauley Duration (named after its developer) of a fixed-interest security, representing the weighted average time until all cash flows (interest and principal) are received. Syntax DURATION(Settlement; Maturity; Nominal_Interest; Yield; Frequency; [Basis]) Arguments Settlement (required) The date of purchase for

Converts a decimal number into a fractional representation where the decimal portion is expressed as a numerator over a specified denominator. Syntax DOLLARFR(Number; Factor) Arguments Number (required) The decimal number to convert (e.g., 8.25 → 8¼). Factor (required) The denominator of the fraction (must be a positive integer). Truncates

Converts a fractional number (expressed with a decimal numerator) into a decimal value by applying a specified denominator. Syntax DOLLARDE(Number; Factor) Arguments Number (required) The value whose decimal portion is treated as the numerator of a fraction. Example: 1.1 with Factor = 2 → 1 + 1/2 = 1.5. Factor (required)

This function calculates the discount rate (anticipative interest rate) for a security based on its cash value, redemption value, and time to maturity (simple interest yield). Syntax DISC(Settlement; Maturity; Price; Repayment; [Basis]) Arguments Settlement (required) The date when the security is purchased. Must

This function calculates depreciation amounts using a multiple-rate (accelerated) depreciation method. Syntax DDB(Purchase_Value; Residual_Value; Life; Period; [Factor]) Arguments Purchase_Value (required) The purchase cost of an asset (net purchase price plus incidental expenses minus purchase cost reductions). If a non-numeric value is

This function calculates the depreciation amounts for an asset using the declining balance (geometric-degressive) depreciation method, accounting for partial years (in complete months) in the first depreciation period. Syntax DB(Purchase_Value; Residual_Value; Life; Period; [Months]) Arguments Purchase_Value (required) The purchase cost of

This function calculates the principal portion repaid between two specified periods for an annuity loan (a loan repaid in equal periodic installments). Syntax: CUMPRINC(Rate, Nper; Pv; Start_Period; End_Period; Type) Arguments: Rate (required): The nominal interest rate of the loan. Nper (required): The total number of repayment

This function calculates the accrued interest paid between two specified periods for an annuity loan (a loan repaid in equal periodic installments). Syntax: CUMIPMT(Rate, Nper; Pv; Start_Period; End_Period; Type) Arguments: Rate (required): The nominal interest rate of the loan. Nper (required): The

This function calculates the number of coupon payments (interest payment dates) remaining after the settlement date—i.e., how many interest payments the new owner of a fixed-interest security will receive until maturity. Syntax. COUPNUM(Settlement; Maturity; Frequency; Basis) Arguments Settlement (required): The

Returns the next coupon payment date after the settlement date for a fixed-income security with regular interest payments. Syntax COUPNCD(Settlement; Maturity; Frequency; Basis) Arguments Argument Required Description Valid Values Settlement Yes Date of ownership transfer Valid Excel date Maturity Yes

Calculates the number of days from the settlement date to the next coupon payment date for a fixed-income security. Syntax COUPDAYSNC(Settlement; Maturity; Frequency; Basis) Arguments Argument Required Description Valid Values Settlement Yes Date ownership transfers Valid date (time truncated) Maturity