The Excel TBILLPRICE function returns the price per $100 face value for a Treasury bill
Syntax:= TBILLPRICE (settlement, maturity, discount)
The TBILLPRICE 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 TBILLPRICE function examples and explore how to use the TBILLPRICE function as a worksheet function in Microsoft Excel:
The following spreadsheet shows the Excel Tbillprice function used to calculate the price, per $100 face value, of a treasury bill with settlement date 01-Jun-2020, maturity date 01-Dec-2020 and a discount rate of 6%
- #NUM! error – Occurs if either:
- The settlement date is greater than or equal to the maturity date
- The maturity date is more than 1 year after the settlement date
- The supplied discount argument is less than or equal to 0.
- #VALUE! error – Occurs if either:
- Any of the supplied arguments are non-numeric
- The settlement or the maturity arguments are not valid dates.
- Settlement and maturity are truncated to integers.
- The settlement and maturity arguments should be supplied to the function as either:
- References to cells containing dates
- Dates returned from other functions or formulas
- TBILLPRICE is calculated as follows: where:
DSM = number of days from settlement to maturity, excluding any maturity date that is more than one calendar year after the settlement date.