Syntax:= ODDFYIELD (sd, md, id, fd, rate, pr, redem, freq, [basis])
The ODDFYIELD function syntax has the following arguments:
Basis | Day count basis |
---|---|
0 or omitted | US (NASD) 30/360 |
1 | Actual/actual |
2 | Actual/360 |
3 | Actual/365 |
4 | European 30/360 |
Example: Let’s look at some Excel ODDFYIELD function examples and explore how to use the ODDFYIELD function as a worksheet function in Microsoft Excel:
Syntax: =ODDFYIELD(B1,B2,B3,B4,B5,B6,B7,B8,B9)
Result:
Based on the Excel spreadsheet above, the following ODDFYIELD examples would return:
Syntax: =ODDFYIELD(B1,B2,B3,B4,B5,B6,B7,B8,B9)
Result: 0.06814328
Syntax: =ODDFYIELD(DATE(2009,11,11),DATE(2022,3,1),DATE(2009,10,15),DATE(2010,3,1),0.0575,100,120,2,0)
Result: 0.06814328
Syntax: =ODDFYIELD(DATE(2009,11,11),DATE(2022,3,1),DATE(2009,10,15),DATE(2010,3,1),5.75%,B6,B7,B8,B9)
Result: 0.06814328
Note:
Syntax:= FILTER (array, include, [if_empty])
The FILTER function syntax has the following arguments:
Example: Let’s look at some Excel FILTER function examples and explore how to use the FILTER function as a worksheet function in Microsoft Excel:
We will start with a simple text filter and filter the data below to only see the employees from New York:
The following formula returns all columns of data if “New York” is found in column C. Notice the height of the Array and Include range of equal.
Syntax: =FILTER(A2:F17;C2:C17=“New York”)
Result:
The results are positioned under the data set here for better visuals for the article. The filter function can return the results to a different sheet or workbook, no problem.
The formula was entered into cell A20 but spilled into the range A20:F23.
This spill effect is a unique feature of the new dynamic array formulas. The formula only resides (and be edited) in cell A20, but its results spill to the array of cells outside.
If there was content in the area it needed to use, a SPILL error would be shown.
Note:
Syntax:= NPV (rate, value1, [value2], …)
The NPV function syntax has the following arguments:
If an argument is an array or reference, only numbers in that array or reference are counted. Empty cells, logical values, text, or error values in the array or reference are ignored.
Example: Let’s look at some Excel NPV function examples and explore how to use the NPV function as a worksheet function in Microsoft Excel:
Example 1:
Syntax: =NPV(B1, B2, B3, B4, B5)
Result: $116,637.66
In this example, the initial investment of $2,000,000(shown in cell B2), was done at the end of the first period. That is why this value is considered as the first argument (i.e. value1) to the NPV function in excel.
Example 2:
Based on the Excel spreadsheet above, the following NPV examples would return:
Syntax: =NPV(B1,B3:B7)+B2
Result: $96,578.74
Syntax: =NPV(B1,B3:B7,-700000)+B2
Result: ($320,808.39)
Note that, as the initial investment of $2,000,000 (shown in cell B2), was done at the start of the first period, this value is not included in the arguments to the NPV function in Excel. Instead, the first cash flow is added to the NPV excel result
Note:
Syntax:= NPER(rate,pmt,pv,[fv],[type])
The NPER function syntax has the following arguments:
Set type equal to | If payments are due |
---|---|
0 or omitted | At the end of the period |
1 |
At the beginning of the period |
Example: Let’s look at some Excel NPER function examples and explore how to use the NPER function as a worksheet function in Microsoft Excel:
Syntax: =NPER(B1/12,B2,B3,B4,1)
Result:
Based on the Excel spreadsheet above, the following NPER examples would return:
Syntax: =NPER(B1/12,B2,B3,B4,1)
Result: 61.29281735
Syntax: =NPER(B1/12,B2,B3,B4)
Result: 61.68632051
Syntax: =NPER(B1/12,B2,B3)
Result: -9.611667598
Note:
Syntax:= MIRR (values, finance_rate, reinvest_rate)
The MIRR function syntax has the following arguments:
Reinvest_rate Required. The interest rate you receive on the cash flows as you reinvest them.
Example: Let’s look at some Excel MIRR function examples and explore how to use the MIRR function as a worksheet function in Microsoft Excel:
Consider an initial loan amount of 10,000,000 as initial investment amount (loan amount) with an interest rate of 10% yearly and you have earned an interest rate of 12% from the reinvested income. In MIRR the loan amount or initial investment amount is always considered as (-ve) value.
Syntax: =MIRR($B$1:B3,$B$8,$B$9)
Result:
Based on the Excel spreadsheet above, the following MIRR examples would return:
Syntax: =MIRR($B$1:B3,$B$8,$B$9)
Result: -23.45%
Syntax: =MIRR($B$1:B4,$B$8,$B$9)
Result: -5.78%
Syntax: =MIRR($B$1:B5,$B$8,$B$9)
Result: 5.03%
Syntax: =MIRR($B$1:B6,$B$8,$B$9)
Result: 12.00%
Syntax: =MIRR($B$1:B7,$B$8,$B$9)
Result: 15.90%
Syntax: =MIRR(B1:B6,B8,13%)
Result: 12.43%
Syntax: =MIRR(B1:B7,B8,12%)
Result: 15.90%
Note:
The Excel NOMINAL function returns the nominal interest rate, given an effective annual interest rate and the number of compounding periods per year. The effective rate is the actual rate due to compounding. The nominal rate is typically the stated rate.
Syntax:= NOMINAL (effect_rate, npery)
The NOMINAL function syntax has the following arguments:
Npery Required. The number of compounding periods per year.
Example: Let’s look at some Excel NOMINAL function examples and explore how to use the NOMINAL function as a worksheet function in Microsoft Excel:
Syntax: =NOMINAL(A2,B2)
Result:
Based on the Excel spreadsheet above, the following NOMINAL examples would return:
Syntax: =NOMINAL(A3,B3)
Result: 6.00%
Syntax: =NOMINAL(A4,B4)
Result: 6.02%
Syntax: =NOMINAL(A5,B5)
Result: 6.03%
Syntax: =NOMINAL(A6,B6)
Result: 6.00%
Syntax: =NOMINAL(A7,B7)
Result: 6.02%
Syntax: =NOMINAL(A8,B8)
Result: 9.65%
Syntax: =NOMINAL(A9,B9)
Result: 6.14%
Syntax: =NOMINAL(A10,B10)
Result: 6.10%
Note:
Syntax:= IRR (values, [guess])
The IRR function syntax has the following arguments:
If IRR gives the #NUM! error value, or if the result is not close to what you expected, try again with a different value for guess.
Example: Let’s look at some Excel IRR function examples and explore how to use the IRR function as a worksheet function in Microsoft Excel:
Syntax: =IRR(B1:B3,-10%)
Result:
Based on the Excel spreadsheet above, the following IRR examples would return:
Syntax: =IRR(B1:B4)
Result: -18.21%
Syntax: =IRR(B1:B5)
Result: -2.12%
Syntax: =IRR(B1:B6)
Result: 8.66%
Syntax: =IRR(B1:B7)
Result: 15.68%
Syntax: =IRR(B1:B8)
Result: 21.10%
Syntax: =IRR(B1:B9)
Result: 25.07%
Note:
Syntax:= MDURATION (settlement, maturity, coupon, yld, freq, [basis])
The MDURATION function syntax has the following arguments:
Basis | Day count basis |
---|---|
0 or omitted | US (NASD) 30/360 |
1 | Actual/actual |
2 | Actual/360 |
3 | Actual/365 |
4 | European 30/360 |
Example: Let’s look at some Excel MDURATION function examples and explore how to use the MDURATION function as a worksheet function in Microsoft Excel:
Syntax: =MDURATION(B1,B2,B3,B4,B5,B6)
Result:
Based on the Excel spreadsheet above, the following MDURATION examples would return:
Syntax: =MDURATION(B1,B2,B3,B4,B5,B6)
Result: 2.484228865
Syntax: =MDURATION(DATE(2018,5,1),DATE(2021,4,1),0.09,0.1,2,1)
Result: 2.484228865
Syntax: =MDURATION(DATE(2018,5,1),DATE(2021,4,1),9%,10%,B5,B6)
Result: 2.484228865
Note:
(1) The settlement, maturity, and basis are truncated to integers. For example, you type 1.4 as the basis value, the MDURATION function will take it as 1 automatically.
(2) The MDURATION function returns #VALUE! error value, if the settlement or maturity is not a valid date.
(3) The MDURATION function returns #NUM! error value, if the settlement date is no less than the maturity date.
(4) The MDURATION function returns #NUM! error value, if the yld or coupon is less than 0.
(5) The frequency can only be one of these numbers: 1, 2, or 4. Otherwise, the MDURATION function returns #NUM! error value.
(6) The MDURATION function returns #NUM! error value, if the basis is less than 0 or greater than 4.
Modified duration is defined as follows:
]]>Syntax:= ISPMT (rate, per, nper, pv)
The ISPMT function syntax has the following arguments:
Example: Let’s look at some Excel ISPMT function examples and explore how to use the ISPMT function as a worksheet function in Microsoft Excel:
Let’s say you borrowed $10,000,000 from the bank with annual rate of 6.80%, and you make a monthly repayment schedule in which the principle payments are equal. And the repayment will start from January and last for 3 year.
Syntax: =ISPMT($B$2/$B$4,E2,$B$3*$B$4,$B$1)
Result:
In this example, the rate should be converted to monthly rate as 6.80%/12 (B2/B4), the total number of payment periods is 3*12 (B3*B4). The returned interest values are negative, as these represent outgoing payments (for the individual taking out the loan).
Based on the Excel spreadsheet above, the following ISPMT examples would return:
Syntax: =ISPMT($B$2/$B$4,E3,$B$3*$B$4,$B$1)
Result: -55092.59259
Syntax: =ISPMT($B$2/$B$4,E4,$B$3*$B$4,$B$1)
Result: -53518.51852
Syntax: =ISPMT($B$2/$B$4,E5,$B$3*$B$4,$B$1)
Result: -51944.44444
Syntax: =ISPMT($B$2/$B$4,E6,$B$3*$B$4,$B$1)
Result: -50370.37037
Syntax: =ISPMT($B$2/$B$4,E7,$B$3*$B$4,$B$1)
Result: -48796.2963
Syntax: =ISPMT($B$2/$B$4,E8,$B$3*$B$4,$B$1)
Result: -47222.22222
Syntax: =ISPMT($B$2/$B$4,E9,$B$3*$B$4,$B$1)
Result: -45648.14815
Syntax: =ISPMT($B$2/$B$4,E10,$B$3*$B$4,$B$1)
Result: -44074.07407
Syntax: =ISPMT($B$2/$B$4,E11,$B$3*$B$4,$B$1)
Result:-42500
Syntax: =ISPMT($B$2/$B$4,E12,$B$3*$B$4,$B$1)
Result:-40925.92593
Syntax: =ISPMT($B$2/$B$4,E13,$B$3*$B$4,$B$1)
Result: -39351.85185
Note:
Syntax:= INTRATE (settlement, maturity, investment, redemption, [basis])
The INTRATE function syntax has the following arguments:
Basis | Day count basis |
---|---|
0 or omitted | US (NASD) 30/360 |
1 | Actual/actual |
2 | Actual/360 |
3 | Actual/365 |
4 | European 30/360 |
Example: Let’s look at some Excel INTRATE function examples and explore how to use the INTRATE function as a worksheet function in Microsoft Excel:
Syntax: =INTRATE(B1,B2,B3,B4,B5)
Result:
Based on the Excel spreadsheet above, the following INTRATE examples would return:
Syntax: =INTRATE(B1,B2,B3,B4,B5)
Result: 0.05793913
Syntax: =INTRATE(DATE(2019,3,1),DATE(2019,6,1),3000000,3044420,2)
Result: 0.05793913
Syntax: =INTRATE(DATE(2019,3,1),DATE(2019,6,1),B3,B4,B5)
Result: 0.05793913
Note:
If investment ≤ 0 or if redemption ≤ 0, INTRATE returns the #NUM! error value.
INTRATE is calculated as follows:
where:
DIM = number of days from settlement to maturity.