The Excel TBILLEQ function returns the bond-equivalent yield for a Treasury bill.
Syntax: TBILLEQ (settlement, maturity, discount)
The TBILLEQ function syntax has the following arguments:
- Settlement Required. The Treasury bill’s settlement date. The security settlement date is the date after the issue date when the Treasury bill is traded to the buyer.
- Maturity Required. The Treasury bill’s maturity date. The maturity date is the date when the Treasury bill expires.
Discount Required. The Treasury bill’s discount rate.
Example: Let’s look at some Excel TBILLEQ function examples and explore how to use the TBILLEQ function as a worksheet function in Microsoft Excel:
The following example shows the Excel Tbilleq function used to calculate the bond-equivalent yield for a treasury bill with settlement date 01-Jun-2020, maturity date 01-Dec-2020 and a discount of 10%
- The TBILLEQ function was introduced in Excel 2003 and is available in all subsequent Excel versions.
- The settlement and maturity arguments are truncated to integers.
- #NUM! error – Occurs when:
- Settlement date is ≥ maturity date.
- Maturity date is more than 1 year after the settlement date.
- Discount argument is less than or equal to 0.
- #VALUE! error – Occurs when:
- Settlement date is an invalid date.
- Maturity date is an invalid date.
- The arguments provided are non-numeric.