TBILLPRICE function in Excel

As the introduction says, TBILLPRICE function in Excel is the calculation function to return the value of a bond in the treasury based on the $ 100 face value.

TBILLPRICE function in Excel

How to use the TBILLPRICE function in Excel

1. Description and syntax used

This is a function that calculates a value based on the $ 100 face value for treasury bonds.

Syntax:

TBILLPRICE (settlement, maturity, discount)

Inside:

– Settlement: The settlement date of the securities is the date after the issuance date of bonds to be sold to buyers.

– Maturity: Expiry date or maturity date of the bond.

– Discount: The discount rate or the rate of return on the bond.

Attention:

– Functions that perform calculations based on formulas:

In which: DSM is the number of days from settlement to expiry.

– If Maturity> Discount or Discount – Maturity> 12 months -> function returns error value #NUM!

– Case Maturity and Discount not valid date -> function returns value #VALUE.

– If Discount ≤ 0 -> function returns error value #NUM!

2. Examples of specific situations

Suppose you need to calculate the value of a bond with the settlement date of January 1, 2018, the maturity date of December 1, 2018, and the discount rate of 8.5%.

Step 1: In the cell to calculate the value -> you enter the formula: = TBILLPRICE (A3, B3, C3)

Step 2: Press Enter -> The value of the bond is based on face value of $ 100 with a discount rate of 8.5% as:

Where if you enter Due date – Settlement date> 12 months The function returns the error value #NUM!

Where if Maturity and Discount is not a valid date -> function returns value #VALUE.

If Discount ≤ 0 ->, the function returns the error value #NUM!

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Above is the usage and some special cases of TBILLPRICE function in Excel. Use this function to help you calculate values ​​based on $ 100 face value for treasury bonds. Good luck!