NXDcR‖Financial Functions Part Two

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Insert - Function - Category Financial


asYyP‖Back to Financial Functions Part One

ABzgU‖Forward to Financial Functions Part Three

yEHpt‖

59XBc‖TBILLYIELD

B7QFQ‖Calculates the yield of a treasury bill.

GSbiK‖Syntax

muxsD‖TBILLYIELD(Settlement; Maturity; Price)

zwaEn‖Settlement is the date of purchase of the security.

xuRy4‖Maturity is the date on which the security matures (expires).

Pst9h‖Price is the price (purchase price) of the treasury bill per 100 currency units of par value.

MiUAf‖Example

vRYFV‖Settlement date: March 31 1999, maturity date: June 1 1999, price: 98.45 currency units.

RnRrM‖The yield of the treasury bill is worked out as follows:

CrxD8‖=TBILLYIELD("1999-03-31";"1999-06-01"; 98.45) returns 0.091417 or 9.1417 per cent.

jJV3r‖

6iiWG‖YIELD

Ssro5‖Calculates the yield of a security.

GSbiK‖Syntax

iZ8rB‖YIELD(Settlement; Maturity; Rate; Price; Redemption; Frequency [; Basis])

C68Mv‖Settlement is the date of purchase of the security.

Ctn8H‖Maturity is the date on which the security matures (expires).

SYg4J‖Rate is the annual rate of interest.

UtDFU‖Price is the price (purchase price) of the security per 100 currency units of par value.

XgnuZ‖Redemption is the redemption value per 100 currency units of par value.

JypkN‖Frequency is the number of interest payments per year (1, 2 or 4).

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

qkgFi‖A security is purchased on 1999-02-15. It matures on 2007-11-15. The rate of interest is 5.75%. The price is 95.04287 currency units per 100 units of par value, the redemption value is 100 units. Interest is paid half-yearly (frequency = 2) and the basis is 0. How high is the yield?

iewbU‖=YIELD("1999-02-15"; "2007-11-15"; 0.0575 ;95.04287; 100; 2; 0) returns 0.065 or 6.50 per cent.

BrDKP‖

AMMGA‖NPV

hs7Jd‖Returns the present value of an investment based on a series of periodic cash flows and a discount rate. To get the net present value, subtract the cost of the project (the initial cash flow at time zero) from the returned value.

KTDpV‖If the payments take place at irregular intervals, use the XNPV function.

GSbiK‖Syntax

ZxBQz‖NPV(Rate; Number 1 [; Number 2 [; … [; Number 254]]])

EEL34‖Rate is the discount rate for a period.

b96Za‖Number 1, Number 2, … , Number 254 are numbers, references to cells or to cell ranges of numbers.

note

rBWwb‖This function ignores any text or empty cell within a data range. If you suspect wrong results from this function, look for text in the data ranges. To highlight text contents in a data range, use the value highlighting feature.


MiUAf‖Example

DAypR‖What is the net present value of periodic payments of 10, 20 and 30 currency units with a discount rate of 8.75%. At time zero the costs were paid as -40 currency units.

LA3fY‖=NPV(8.75%;10;20;30) = 49.43 currency units. The net present value is the returned value minus the initial costs of 40 currency units, therefore 9.43 currency units.

zcFRa‖

BWEGo‖TBILLPRICE

QvMyA‖Calculates the price of a treasury bill per 100 currency units.

GSbiK‖Syntax

RBrJZ‖TBILLPRICE(Settlement; Maturity; Discount)

LmGTo‖Settlement is the date of purchase of the security.

ESXrv‖Maturity is the date on which the security matures (expires).

kk3dB‖Discount is the percentage discount upon acquisition of the security.

MiUAf‖Example

fGMCF‖Settlement date: March 31 1999, maturity date: June 1 1999, discount: 9 per cent.

YQuKY‖The price of the treasury bill is worked out as follows:

VfuXC‖=TBILLPRICE("1999-03-31";"1999-06-01"; 0.09) returns 98.45.

rf6ur‖

ChHax‖PRICE

JgCvp‖Calculates the market value of a fixed interest security with a par value of 100 currency units as a function of the forecast yield.

GSbiK‖Syntax

k7qtv‖PRICE(Settlement; Maturity; Rate; Yield; Redemption; Frequency [; Basis])

FUP24‖Settlement is the date of purchase of the security.

xH3jP‖Maturity is the date on which the security matures (expires).

Eo7Cn‖Rate is the annual nominal rate of interest (coupon interest rate)

QcHcK‖Yield is the annual yield of the security.

2LD3E‖Redemption is the redemption value per 100 currency units of par value.

kJgyG‖Frequency is the number of interest payments per year (1, 2 or 4).

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

w5B9t‖A security is purchased on 1999-02-15; the maturity date is 2007-11-15. The nominal rate of interest is 5.75%. The yield is 6.5%. The redemption value is 100 currency units. Interest is paid half-yearly (frequency is 2). With calculation on basis 0, the price is as follows:

mvRnh‖=PRICE("1999-02-15"; "2007-11-15"; 0.0575; 0.065; 100; 2; 0) returns 95.04287.

GAN7n‖

EjWXp‖PDURATION

mQkqy‖Calculates the number of periods required by an investment to attain the desired value.

GSbiK‖Syntax

wLSMC‖PDURATION(Rate; PV; FV)

Rzxhq‖Rate is a constant. The interest rate is to be calculated for the entire duration (duration period). The interest rate per period is calculated by dividing the interest rate by the calculated duration. The internal rate for an annuity is to be entered as Rate/12.

jpBBn‖PV is the present (current) value. The cash value is the deposit of cash or the current cash value of an allowance in kind. As a deposit value a positive value must be entered; the deposit must not be 0 or <0.

rxSZX‖FV is the expected value. The future value determines the desired (future) value of the deposit.

MiUAf‖Example

SATJW‖At an interest rate of 4.75%, a cash value of 25,000 currency units and a future value of 1,000,000 currency units, a duration of 79.49 payment periods is returned. The periodic payment is the resulting quotient from the future value and the duration, in this case 1,000,000/79.49=12,850.20.

zLdSt‖

FWB2Q‖MDURATION

MggV6‖Calculates the modified Macauley duration of a fixed interest security in years.

GSbiK‖Syntax

tGit8‖MDURATION(Settlement; Maturity; Coupon; Yield; Frequency [; Basis])

xTn69‖Settlement is the date of purchase of the security.

UgBHk‖Maturity is the date on which the security matures (expires).

vMW33‖Coupon is the annual nominal rate of interest (coupon interest rate)

5NyMh‖Yield is the annual yield of the security.

GsSHE‖Frequency is the number of interest payments per year (1, 2 or 4).

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

i5kGf‖A security is purchased on 2001-01-01; the maturity date is 2006-01-01. The nominal rate of interest is 8%. The yield is 9.0%. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) how long is the modified duration?

PWSr2‖=MDURATION("2001-01-01"; "2006-01-01"; 0.08; 0.09; 2; 3) returns 4.02 years.

fyPVS‖

HCJLx‖NOMINAL

ZtXoJ‖Calculates the yearly nominal interest rate, given the effective rate and the number of compounding periods per year.

GSbiK‖Syntax

C7tsK‖NOMINAL(EffectiveRate; NPerY)

AgWeQ‖EffectiveRate is the effective interest rate

hQuGX‖NPerY is the number of periodic interest payments per year.

MiUAf‖Example

Aihdg‖What is the nominal interest per year for an effective interest rate of 13.5% if twelve payments are made per year.

fX48v‖=NOMINAL(13.5%;12) = 12.73%. The nominal interest rate per year is 12.73%.

sQGxa‖

JuT2F‖PRICEDISC

BmTrm‖Calculates the price per 100 currency units of par value of a non-interest- bearing security.

GSbiK‖Syntax

6dK5H‖PRICEDISC(Settlement; Maturity; Discount; Redemption [; Basis])

WBvCG‖Settlement is the date of purchase of the security.

Nvskp‖Maturity is the date on which the security matures (expires).

EEGAG‖Discount is the discount of a security as a percentage.

Bsgje‖Redemption is the redemption value per 100 currency units of par value.

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

k8LRc‖A security is purchased on 1999-02-15; the maturity date is 1999-03-01. Discount in per cent is 5.25%. The redemption value is 100. When calculating on basis 2 the price discount is as follows:

ZeFG7‖=PRICEDISC("1999-02-15"; "1999-03-01"; 0.0525; 100; 2) returns 99.79583.

kkQE9‖

KoAeq‖CUMIPMT_ADD

UBXor‖Calculates the accumulated interest for a period.

note

gGXZq‖The functions whose names end with _ADD or _EXCEL2003 return the same results as the corresponding Microsoft Excel 2003 functions without the suffix. Use the functions without suffix to get results based on international standards.


GSbiK‖Syntax

dJSwR‖CUMIPMT_ADD(Rate; NPer; PV; StartPeriod; EndPeriod; Type)

TXptN‖Rate is the interest rate for each period.

ZBF3X‖NPer is the total number of payment periods. The rate and NPER must refer to the same unit, and thus both be calculated annually or monthly.

Fyd98‖PV is the current value.

USjNi‖StartPeriod is the first payment period for the calculation.

f6UhB‖EndPeriod is the last payment period for the calculation.

9Uq5w‖Type is the maturity of a payment at the end of each period (Type = 0) or at the start of the period (Type = 1).

MiUAf‖Example

moZC6‖The following mortgage loan is taken out on a house:

FKKBw‖Rate: 9.00 per cent per annum (9% / 12 = 0.0075), Duration: 30 years (NPER = 30 * 12 = 360), Pv: 125000 currency units.

xBJmd‖How much interest must you pay in the second year of the mortgage (thus from periods 13 to 24)?

AHELF‖=CUMIPMT_ADD(0.0075;360;125000;13;24;0) returns -11135.23.

FBDuD‖How much interest must you pay in the first month?

CBFwZ‖=CUMIPMT_ADD(0.0075;360;125000;1;1;0) returns -937.50.

wkvF6‖

LDDC5‖PPMT

ypm9a‖Returns for a given period the payment on the principal for an investment that is based on periodic and constant payments and a constant interest rate.

GSbiK‖Syntax

gxWF2‖PPMT(Rate; Period; NPer; PV [ ; FV [ ; Type ] ])

t4fJk‖Rate is the periodic interest rate.

RZqLF‖Period is the amortizement period. P = 1 for the first and P = NPer for the last period.

yFB4e‖NPer is the total number of periods during which annuity is paid.

UBUtw‖PV is the present value in the sequence of payments.

Ckyr7‖FV (optional) is the desired (future) value.

e2CaX‖Type (optional) defines the due date. F = 1 for payment at the beginning of a period and F = 0 for payment at the end of a period.

In the LibreOfficeDev Calc functions, parameters marked as "optional" can be left out only when no parameter follows. For example, in a function with four parameters, where the last two parameters are marked as "optional", you can leave out parameter 4 or parameters 3 and 4, but you cannot leave out parameter 3 alone.

MiUAf‖Example

dGMDT‖How high is the periodic monthly payment at an annual interest rate of 8.75% over a period of 3 years? The cash value is 5,000 currency units and is always paid at the beginning of a period. The future value is 8,000 currency units.

A2AsC‖=PPMT(8.75%/12;1;36;5000;8000;1) = -350.99 currency units.

oTXcz‖

M5fCi‖DOLLARDE

AzXDV‖Converts a quotation that has been given as a decimal fraction into a decimal number.

GSbiK‖Syntax

zxFEq‖DOLLARDE(FractionalDollar; Fraction)

gtkuA‖FractionalDollar is a number given as a decimal fraction.

A3rfB‖Fraction is a whole number that is used as the denominator of the decimal fraction.

MiUAf‖Example

EVEdB‖=DOLLARDE(1.02;16) stands for 1 and 2/16. This returns 1.125.

Z3ukC‖=DOLLARDE(1.1;8) stands for 1 and 1/8. This returns 1.125.

3DYRA‖

NPMHY‖CUMPRINC_ADD

Kricq‖ Calculates the cumulative redemption of a loan in a period.

note

gGXZq‖The functions whose names end with _ADD or _EXCEL2003 return the same results as the corresponding Microsoft Excel 2003 functions without the suffix. Use the functions without suffix to get results based on international standards.


GSbiK‖Syntax

AzC4f‖CUMPRINC_ADD(Rate; NPer; PV; StartPeriod; EndPeriod; Type)

FqUc7‖Rate is the interest rate for each period.

8drNo‖NPer is the total number of payment periods. The rate and NPER must refer to the same unit, and thus both be calculated annually or monthly.

A6Wgj‖PV is the current value.

2BAoA‖StartPeriod is the first payment period for the calculation.

AKZWS‖EndPeriod is the last payment period for the calculation.

Ng5aR‖Type is the maturity of a payment at the end of each period (Type = 0) or at the start of the period (Type = 1).

MiUAf‖Example

dUFpG‖The following mortgage loan is taken out on a house:

DfTU9‖Rate: 9.00 per cent per annum (9% / 12 = 0.0075), Duration: 30 years (payment periods = 30 * 12 = 360), NPV: 125000 currency units.

CyBfE‖How much will you repay in the second year of the mortgage (thus from periods 13 to 24)?

qSRSK‖=CUMPRINC_ADD(0.0075;360;125000;13;24;0) returns -934.1071

k7uxi‖In the first month you will be repaying the following amount:

326AE‖=CUMPRINC_ADD(0.0075;360;125000;1;1;0) returns -68.27827

VhSHk‖

Qhe3N‖DOLLARFR

F57wX‖Converts a quotation that has been given as a decimal number into a mixed decimal fraction.

GSbiK‖Syntax

qrWCW‖DOLLARFR(DecimalDollar; Fraction)

N5WPe‖DecimalDollar is a decimal number.

FiLbV‖Fraction is a whole number that is used as the denominator of the decimal fraction.

MiUAf‖Example

nz8K4‖=DOLLARFR(1.125;16) converts into sixteenths. The result is 1.02 for 1 plus 2/16.

Bkq9d‖=DOLLARFR(1.125;8) converts into eighths. The result is 1.1 for 1 plus 1/8.

hbGNH‖

SCFnr‖PRICEMAT

qnKpP‖Calculates the price per 100 currency units of par value of a security, that pays interest on the maturity date.

GSbiK‖Syntax

h6UDj‖PRICEMAT(Settlement; Maturity; Issue; Rate; Yield [; Basis])

tG4zg‖Settlement is the date of purchase of the security.

M4xAU‖Maturity is the date on which the security matures (expires).

NnK8K‖Issue is the date of issue of the security.

KG9Fq‖Rate is the interest rate of the security on the issue date.

fSAfb‖Yield is the annual yield of the security.

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

fiNQN‖Settlement date: February 15 1999, maturity date: April 13 1999, issue date: November 11 1998. Interest rate: 6.1 per cent, yield: 6.1 per cent, basis: 30/360 = 0.

JGVzC‖The price is calculated as follows:

fi4NY‖=PRICEMAT("1999-02-15";"1999-04-13";"1998-11-11"; 0.061; 0.061;0) returns 99.98449888.

kv4Pb‖

ScCBu‖SLN

rGCTo‖Returns the straight-line depreciation of an asset for one period. The amount of the depreciation is constant during the depreciation period.

GSbiK‖Syntax

GzXsv‖SLN(Cost; Salvage; Life)

8CSs2‖Cost is the initial cost of an asset.

FANVf‖Salvage is the value of an asset at the end of the depreciation.

FybWr‖Life is the depreciation period determining the number of periods in the depreciation of the asset.

MiUAf‖Example

4tbmH‖Office equipment with an initial cost of 50,000 currency units is to be depreciated over 7 years. The value at the end of the depreciation is to be 3,500 currency units.

sAuz4‖=SLN(50000;3,500;84) = 553.57 currency units. The periodic monthly depreciation of the office equipment is 553.57 currency units.

2ZC4E‖

Uj2ew‖PMT

FHFRn‖Returns the periodic payment for an annuity with constant interest rates.

GSbiK‖Syntax

94VHK‖PMT(Rate; NPer; PV [ ; [ FV ] [ ; Type ] ])

fGg3G‖Rate is the periodic interest rate.

yz8oV‖NPer is the number of periods in which annuity is paid.

dAkZ3‖PV is the present value (cash value) in a sequence of payments.

ckGU8‖FV (optional) is the desired value (future value) to be reached at the end of the periodic payments.

krZrE‖Type (optional) is the due date for the periodic payments. Type=1 is payment at the beginning and Type=0 is payment at the end of each period.

In the LibreOfficeDev Calc functions, parameters marked as "optional" can be left out only when no parameter follows. For example, in a function with four parameters, where the last two parameters are marked as "optional", you can leave out parameter 4 or parameters 3 and 4, but you cannot leave out parameter 3 alone.

MiUAf‖Example

y9wSn‖What are the periodic payments at a yearly interest rate of 1.99% if the payment time is 3 years and the cash value is 25,000 currency units. There are 36 months as 36 payment periods, and the interest rate per payment period is 1.99%/12.

5kcxK‖=PMT(1.99%/12;36;25000) = -715.96 currency units. The periodic monthly payment is therefore 715.96 currency units.

qYZB7‖

fAddD‖TBILLEQ

jvBir‖Calculates the annual return on a treasury bill. A treasury bill is purchased on the settlement date and sold at the full par value on the maturity date, that must fall within the same year. A discount is deducted from the purchase price.

GSbiK‖Syntax

gFfjX‖TBILLEQ(Settlement; Maturity; Discount)

nqU3u‖Settlement is the date of purchase of the security.

C2v6G‖Maturity is the date on which the security matures (expires).

9AGUY‖Discount is the percentage discount on acquisition of the security.

MiUAf‖Example

tCoCK‖Settlement date: March 31 1999, maturity date: June 1 1999, discount: 9.14 per cent.

s7DE6‖The return on the treasury bill corresponding to a security is worked out as follows:

QzDeZ‖=TBILLEQ("1999-03-31";"1999-06-01"; 0.0914) returns 0.094151 or 9.4151 per cent.

5mbhE‖

gDVei‖YIELDMAT

AvmYj‖Calculates the annual yield of a security, the interest of which is paid on the date of maturity.

GSbiK‖Syntax

63YEW‖YIELDMAT(Settlement; Maturity; Issue; Rate; Price [; Basis])

db9jM‖Settlement is the date of purchase of the security.

mDA8k‖Maturity is the date on which the security matures (expires).

MvUAc‖Issue is the date of issue of the security.

E7jdC‖Rate is the interest rate of the security on the issue date.

AUZxg‖Price is the price (purchase price) of the security per 100 currency units of par value.

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

CVbVY‖A security is purchased on 1999-03-15. It matures on 1999-11-03. The issue date was 1998-11-08. The rate of interest is 6.25%, the price is 100.0123 units. The basis is 0. How high is the yield?

DswXC‖=YIELDMAT("1999-03-15"; "1999-11-03"; "1998-11-08"; 0.0625; 100.0123; 0) returns 0.060954 or 6.0954 per cent.

KvbAk‖

iChyK‖MIRR

CMsDu‖Calculates the modified internal rate of return of a series of investments.

GSbiK‖Syntax

gEqNo‖MIRR(Values; Investment; ReinvestRate)

D6MGL‖Values corresponds to the array or the cell reference for cells whose content corresponds to the payments.

gwC77‖Investment is the rate of interest of the investments (the negative values of the array)

J42GD‖ReinvestRate:the rate of interest of the reinvestment (the positive values of the array)

MiUAf‖Example

Auhk8‖Assuming a cell content of A1 = -5, A2 = 10, A3 = 15, and A4 = 8, and an investment value of 0.5 and a reinvestment value of 0.1, the result is 94.16%.

AeJmf‖

jMMDF‖YIELDDISC

CTBdC‖Calculates the annual yield of a non-interest-bearing security.

GSbiK‖Syntax

z5sGa‖YIELDDISC(Settlement; Maturity; Price; Redemption [; Basis])

fFG4g‖Settlement is the date of purchase of the security.

yu3bU‖Maturity is the date on which the security matures (expires).

RdnvF‖Price is the price (purchase price) of the security per 100 currency units of par value.

BJS6o‖Redemption is the redemption value per 100 currency units of par value.

3QzPn‖Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

HgwU8‖Basis

HrUPv‖Calculation

Q8ewH‖0 or missing

CkPny‖US method (NASD), 12 months of 30 days each

1

EKpyM‖Exact number of days in months, exact number of days in year

2

iCCDX‖Exact number of days in month, year has 360 days

3

CBDJh‖Exact number of days in month, year has 365 days

4

32hC2‖European method, 12 months of 30 days each


MiUAf‖Example

rkDWB‖A non-interest-bearing security is purchased on 1999-02-15. It matures on 1999-03-01. The price is 99.795 currency units per 100 units of par value, the redemption value is 100 units. The basis is 2. How high is the yield?

DMev8‖=YIELDDISC("1999-02-15"; "1999-03-01"; 99.795; 100; 2) returns 0.052823 or 5.2823 per cent.

7VMrh‖

ovgEx‖CUMIPMT

atpfA‖Calculates the cumulative interest payments, that is, the total interest, for an investment based on a constant interest rate.

GSbiK‖Syntax

ZgAXB‖CUMIPMT(Rate; NPer; PV; S; E; Type)

EQsat‖Rate is the periodic interest rate.

AmB5k‖NPer is the payment period with the total number of periods. NPER can also be a non-integer value.

Fc69n‖PV is the current value in the sequence of payments.

m6B7v‖S is the first period.

DfYGF‖E is the last period.

ckByz‖Type is the due date of the payment at the beginning or end of each period.

MiUAf‖Example

BGZdj‖What are the interest payments at a yearly interest rate of 5.5 %, a payment period of monthly payments for 2 years and a current cash value of 5,000 currency units? The start period is the 4th and the end period is the 6th period. The payment is due at the beginning of each period.

BSssC‖=CUMIPMT(5.5%/12;24;5000;4;6;1) = -57.54 currency units. The interest payments for between the 4th and 6th period are 57.54 currency units.

DYXBe‖

qthNg‖CUMPRINC

LDBjj‖Returns the cumulative interest paid for an investment period with a constant interest rate.

GSbiK‖Syntax

cZFVU‖CUMPRINC(Rate; NPer; PV; S; E; Type)

MmfhY‖Rate is the periodic interest rate.

tfiiZ‖NPer is the payment period with the total number of periods. NPER can also be a non-integer value.

ZeD58‖PV is the current value in the sequence of payments.

8JeyU‖S is the first period.

v9xxo‖E is the last period.

7emzg‖Type is the due date of the payment at the beginning or end of each period.

MiUAf‖Example

PptaD‖What are the payoff amounts if the yearly interest rate is 5.5% for 36 months? The cash value is 15,000 currency units. The payoff amount is calculated between the 10th and 18th period. The due date is at the end of the period.

uZpa6‖=CUMPRINC(5.5%/12;36;15000;10;18;0) = -3669.74 currency units. The payoff amount between the 10th and 18th period is 3669.74 currency units.

nopCm‖

waSCK‖NOMINAL_ADD

zBbRt‖Calculates the annual nominal rate of interest on the basis of the effective rate and the number of interest payments per annum.

note

gGXZq‖The functions whose names end with _ADD or _EXCEL2003 return the same results as the corresponding Microsoft Excel 2003 functions without the suffix. Use the functions without suffix to get results based on international standards.


GSbiK‖Syntax

6DdxN‖NOMINAL_ADD(EffectiveRate; NPerY)

AG9aq‖EffectiveRate is the effective annual rate of interest.

6hEH3‖NPerY the number of interest payments per year.

MiUAf‖Example

YQdC7‖What is the nominal rate of interest for a 5.3543% effective rate of interest and quarterly payment.

JLGFE‖=NOMINAL_ADD(5.3543%;4) returns 0.0525 or 5.25%.

CVksW‖Back to Financial Functions Part One

37Fny‖Forward to Financial Functions Part Three

Functions by Category