Difference between revisions of "Documentation/How Tos/Calc: INTRATE function"
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: where days_difference is the number of days between <tt>'''settlementdate'''</tt> and <tt>'''maturitydate'''</tt>, and days_in_year is the number of days in a year, both calculated according to the calendar system <tt>'''basis'''</tt>. | : where days_difference is the number of days between <tt>'''settlementdate'''</tt> and <tt>'''maturitydate'''</tt>, and days_in_year is the number of days in a year, both calculated according to the calendar system <tt>'''basis'''</tt>. | ||
| − | : As the formula takes no account of compounding, this function is most reliable for periods of less than a year. See | + | : As the formula takes no account of compounding, this function is most reliable for periods of less than a year. See * [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]]''' for a formula review. |
=== Example: === | === Example: === | ||
| Line 29: | Line 29: | ||
: returns approximately <tt>'''0.096'''</tt>, or <tt>'''9.6%'''</tt>. | : returns approximately <tt>'''0.096'''</tt>, or <tt>'''9.6%'''</tt>. | ||
| − | + | {{Documentation/SeeAlso| | |
| − | [[Documentation/How_Tos/Calc: RECEIVED function| | + | * [[Documentation/How_Tos/Calc: RECEIVED function|RECEIVED]] |
| − | [[Documentation/How_Tos/Calc: Date & Time functions#Financial date systems| | + | * [[Documentation/How_Tos/Calc: Date & Time functions#Financial date systems|Financial date systems]] |
| − | + | * [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]]''' | |
| − | [[Documentation/How_Tos/Calc: Financial functions| | + | * [[Documentation/How_Tos/Calc: Financial functions|Financial functions]] |
| − | [[Documentation/How_Tos/Calc: Functions listed alphabetically| | + | * [[Documentation/How_Tos/Calc: Functions listed alphabetically|Functions listed alphabetically]] |
| − | [[Documentation/How_Tos/Calc: Functions listed by category| | + | * [[Documentation/How_Tos/Calc: Functions listed by category|Functions listed by category]]}} |
=== Issues: === | === Issues: === | ||
* Calc and Excel do not agree on the number of days in a year in basis 1. It is not clear which is theoretically correct. Calc uses the number of days in the year containing <tt>'''purchasedate'''</tt>. See Issue 93527. | * Calc and Excel do not agree on the number of days in a year in basis 1. It is not clear which is theoretically correct. Calc uses the number of days in the year containing <tt>'''purchasedate'''</tt>. See Issue 93527. | ||
Revision as of 13:57, 25 February 2009
INTRATE
Returns the equivalent annual interest rate for an investment bought at one price and sold at another.
Syntax:
INTRATE(settlementdate; maturitydate; purchasevalue; maturityvalue; basis)
- settlementdate: the date the item was bought.
- maturitydate: the date the item was sold.
- purchasevalue: the amount paid for the item.
- maturityvalue: the amount received for the item.
- basis: is chosen from a list of options and indicates how the year is to be calculated. Defaults to 0 if omitted.
- 0 - US method (NASD), 12 months of 30 days each
- 1 - Exact number of days in months, exact number of days in year
- 2 - Exact number of days in month, year has 360 days
- 3 - Exact number of days in month, year has 365 days
- 4 - European method, 12 months of 30 days each
- The equivalent interest rate returned is the (un-compounded) interest rate that would have to be paid on an investment of purchasevalue to turn it into maturityvalue at maturity. This function may be helpful with short term zero coupon bonds.
- The formula used is:
- ( (maturityvalue - purchasevalue)/purchasevalue ) * (days_in_year/days_difference)
- where days_difference is the number of days between settlementdate and maturitydate, and days_in_year is the number of days in a year, both calculated according to the calendar system basis.
- As the formula takes no account of compounding, this function is most reliable for periods of less than a year. See * Derivation of Financial Formulas for a formula review.
Example:
INTRATE("2009-02-02"; "2009-12-03"; 1000; 1080; 0)
- returns approximately 0.096, or 9.6%.
Template:Documentation/SeeAlso
Issues:
- Calc and Excel do not agree on the number of days in a year in basis 1. It is not clear which is theoretically correct. Calc uses the number of days in the year containing purchasedate. See Issue 93527.
