TBILLEQ(S, M, D)

 

Description

This function returns the bond-yield equivalent (BEY) for a Treasury Bill equivalent to a bond, given settlement date S, maturity date M, and discount rate D.  Dates must be expressed as datetime values.  If the term is one half-year or less, BEY is equivalent to a actual/365 simple interest rate.  If the term of the security is more than one-half year, BEY is equivalent to a semiannually compounded Treasury bond yield.

 

Parameters

 

S

Settlement date.

 

M

Maturity date.

 

D

Discount rate of Treasury bill.

 

Examples

 

TBILLEQ(DATE(93, 3, 31), DATE(93, 6, 20), 9.14%) = 0.09462

 

TBILLEQ(DATE(93, 3, 31), DATE(93, 12, 15), 9.14%) = 0.09819