Financial Functions Part Three

\<bookmark_value\>COUPDAYBS function\</bookmark_value\>\<bookmark_value\>durations;first interest payment until settlement date\</bookmark_value\>\<bookmark_value\>securities;first interest payment until settlement date\</bookmark_value\>

COUPDAYBS

Returns the number of days from the first day of interest payment on a security until the settlement date.

Syntax

COUPDAYBS(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) how many days is this?

=COUPDAYBS("1.25.2001"; "11.15.2001"; 2; 3) returns 71.

\<bookmark_value\>COUPDAYS function\</bookmark_value\>

COUPDAYS

Returns the number of days in the current interest period in which the settlement date falls.

Syntax

COUPDAYS(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) how many days are there in the interest period in which the settlement date falls?

=COUPDAYS("1.25.2001"; "11.15.2001"; 2; 3) returns 181.

\<bookmark_value\>COUPDAYSNC function\</bookmark_value\>

COUPDAYSNC

Returns the number of days from the settlement date until the next interest date.

Syntax

COUPDAYSNC(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) how many days are there until the next interest payment?

=COUPDAYSNC("1.25.2001"; "11.15.2001"; 2; 3) returns 110.

\<bookmark_value\>COUPNCD function\</bookmark_value\>

COUPNCD

Returns the date of the first interest date after the settlement date. Format the result as a date.

Syntax

COUPNCD(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) when is the next interest date?

=COUPNCD("1.25.2001"; "11.15.2001"; 2; 3) returns 5.15.2001.

\<bookmark_value\>COUPNUM function\</bookmark_value\>\<bookmark_value\>number of coupons\</bookmark_value\>

COUPNUM

Returns the number of coupons (interest payments) between the settlement date and the maturity date.

Syntax

COUPNUM(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) how many interest dates are there?

=COUPNUM("1.25.2001"; "11.15.2001"; 2; 3) returns 2.

\<bookmark_value\>COUPPCD function\</bookmark_value\>\<bookmark_value\>dates;interest date prior to settlement date\</bookmark_value\>

COUPPCD

Returns the date of the interest date prior to the settlement date. Format the result as a date.

Syntax

COUPPCD(Settlement; Maturity; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A security is purchased on 1.25.2001; the date of maturity is 11.15.2001. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) what was the interest date prior to purchase?

=COUPPCD("1.25.2001"; "11.15.2001"; 2; 3) returns 11.15.2000.

\<bookmark_value\>calculating;future values\</bookmark_value\>\<bookmark_value\>future values;constant interest rates\</bookmark_value\>\<bookmark_value\>FV function\</bookmark_value\>

FV

Returns the future value of an investment based on periodic, constant payments and a constant interest rate (Future Value).

Syntax

FV(Rate; NPer; Pmt [ ; [ PV ] [ ; Type ] ])

\<emph\>Rate\</emph\> sets the periodic interest rate.

\<emph\>Total_periods\</emph\> is the total number of installment periods.

PMT: the annuity paid regularly per period.

PV (optional): the (present) cash value of an investment.

Type (optional): defines whether the payment is due at the beginning or the end of a period.

In the LibreOffice 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.

Example

What is the value at the end of an investment if the interest rate is 4% and the payment period is two years, with a periodic payment of 750 currency units. The investment has a present value of 2,500 currency units.

FV(4%;2;750;2500) = -4234.00 currency units. The value at the end of the investment is 4234.00 currency units.

\<bookmark_value\>FVSCHEDULE function\</bookmark_value\>\<bookmark_value\>future values;varying interest rates\</bookmark_value\>

FVSCHEDULE

Calculates the accumulated value of the starting capital for a series of periodically varying interest rates.

Syntax

FVSCHEDULE(Principal;Schedule)

Principal: is the starting capital.

Schedule: a series of interest rates, for example, as a range H3:H5 or as a (List) (see example).

Example

1000 currency units have been invested in for three years. The interest rates were 3%, 4% and 5% per annum. What is the value after three years?

=FVSCHEDULE(1000; {0.03; 0.04; 0.05}) returns 1124.76.

\<bookmark_value\>INTRATE function\</bookmark_value\>

INTRATE

Calculates the annual interest rate that results when a security (or other item) is purchased at an investment value and sold at a redemption value. No interest is paid.

Syntax

INTRATE(Settlement; Maturity; Investment; Redemption [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Investment: the purchase price.

Redemption: the selling price.

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

A painting is bought on 1/15/1990 for 1 million and sold on 5/5/2002 for 2 million. The basis is daily balance calculation (basis = 3). What is the average annual level of interest?

=INTRATE("1/15/1990"; "5/5/2002"; 1000000; 2000000; 3) returns 8.12%.

\<bookmark_value\>IPMT function\</bookmark_value\>\<bookmark_value\>periodic amortizement rates\</bookmark_value\>

IPMT

Calculates the periodic amortizement for an investment with regular payments and a constant interest rate.

Syntax

IPMT(Rate; Period; NPer; PV [; FV [; Type]])

\<emph\>Rate\</emph\> sets the periodic interest rate.

\<emph\>Period\</emph\> is the period, for which the compound interest is calculated. Period=NPER if compound interest for the last period is calculated.

\<emph\>NPER\</emph\> is the total number of periods, during which annuity is paid.

\<emph\>PV\</emph\> is the present cash value in sequence of payments.

\<emph\>FV\</emph\> (optional) is the desired value (future value) at the end of the periods.

\<emph\>Type\</emph\> is the due date for the periodic payments.

Example

What is the interest rate during the fifth period (year) if the constant interest rate is 5% and the cash value is 15,000 currency units? The periodic payment is seven years.

IPMT(5%;5;7;15000) = -352.97 currency units. The compound interest during the fifth period (year) is 352.97 currency units.

\<bookmark_value\>calculating;number of payment periods\</bookmark_value\>\<bookmark_value\>payment periods;number of\</bookmark_value\>\<bookmark_value\>number of payment periods\</bookmark_value\>\<bookmark_value\>NPER function\</bookmark_value\>

NPER

Returns the number of periods for an investment based on periodic, constant payments and a constant interest rate.

Syntax

NPER(Rate; Pmt; PV [ ; [ FV ] [ ; Type ] ])

\<emph\>Rate\</emph\> sets the periodic interest rate.

PMT: the constant annuity paid in each period.

PV: the present value (cash value) in a sequence of payments.

FV (optional): the future value, which is reached at the end of the last period.

Type (optional): the due date of the payment at the beginning or at the end of the period.

In the LibreOffice 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.

Example

How many payment periods does a payment period cover with a periodic interest rate of 6%, a periodic payment of 153.75 currency units and a present cash value of 2.600 currency units.

NPER(6%;153.75;2600) = -12,02. The payment period covers 12.02 periods.

\<bookmark_value\>ODDFPRICE function\</bookmark_value\>\<bookmark_value\>prices;securities with irregular first interest rate\</bookmark_value\>

ODDFPRICE

Calculates the price per 100 currency units par value of a security, if the first interest date falls irregularly.

Syntax

ODDFPRICE(Settlement; Maturity; Issue; FirstCoupon; Rate; Yield; Redemption; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Issue: the date of issue of the security.

First coupon: the first interest date of the security.

Rate: the annual rate of interest.

\<emph\>Par\</emph\>: the par value of the security.

Redemption: the redemption value per 100 currency units of par value.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


\<bookmark_value\>ODDFYIELD function\</bookmark_value\>

ODDFYIELD

Calculates the yield of a security if the first interest date falls irregularly.

Syntax

ODDFYIELD(Settlement; Maturity; Issue; FirstCoupon; Rate; Price; Redemption; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Issue: the date of issue of the security.

First coupon: the first interest period of the security.

Rate: the annual rate of interest.

Price: the price of the security.

Redemption: the redemption value per 100 currency units of par value.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


\<bookmark_value\>ODDLPRICE function\</bookmark_value\>

ODDLPRICE

Calculates the price per 100 currency units par value of a security, if the last interest date falls irregularly.

Syntax

ODDLPRICE(Settlement; Maturity; LastInterest; Rate; Yield; Redemption; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Last interest: the last interest date of the security.

Rate: the annual rate of interest.

\<emph\>Par\</emph\>: the par value of the security.

Redemption: the redemption value per 100 currency units of par value.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

Settlement date: February 7 1999, maturity date: June 15 1999, last interest: October 15 1998. Interest rate: 3.75 per cent, yield: 4.05 per cent, redemption value: 100 currency units, frequency of payments: half-yearly = 2, basis: = 0

The price per 100 currency units per value of a security, which has an irregular last interest date, is calculated as follows:

ODDLPRICE("2/7/1999";"6/15/1999";"10/15/1998"; 0.0375; 0.0405;100;2;0) returns 99.87829.

\<bookmark_value\>ODDLYIELD function\</bookmark_value\>

ODDLYIELD

Calculates the yield of a security if the last interest date falls irregularly.

Syntax

ODDLYIELD(Settlement; Maturity; LastInterest; Rate; Price; Redemption; Frequency [; Basis])

Issue: the date of issue of the security.

Maturity: the date on which the security is sold.

Last interest: the last interest date of the security.

Rate: the annual rate of interest.

Price: the price of the security.

Redemption: the redemption value per 100 currency units of par value.

Frequency: number of interest payments per year (1, 2 or 4).

\<emph\>Basis\</emph\>: is chosen from a list of options and indicates how the year is to be calculated.

Basis

Calculation

0 or missing

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

1

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

2

Exact number of days in month, year has 360 days

3

Exact number of days in month, year has 365 days

4

European method, 12 months of 30 days each


Example

Settlement date: April 20 1999, maturity date: June 15 1999, last interest: October 15 1998. Interest rate: 3.75 per cent, price: 99.875 currency units, redemption value: 100 currency units, frequency of payments: half-yearly = 2, basis: = 0

The yield of the security, that has an irregular last interest date, is calculated as follows:

=ODDLYIELD("4/20/1999";"6/15/1999"; "10/15/1998"; 0.0375; 99.875; 100;2;0) returns 0.044873 or 4.4873%.

\<bookmark_value\>calculating;constant interest rates\</bookmark_value\>\<bookmark_value\>constant interest rates\</bookmark_value\>\<bookmark_value\>RATE function\</bookmark_value\>

RATE

Returns the constant interest rate per period of an annuity.

Syntax

RATE(NPer; Pmt; PV [ ; [ FV ] [ ; [ Type ] [ ; Guess ] ] ])

NPER: the total number of periods, during which payments are made (payment period).

PMT: the constant payment (annuity) paid during each period.

PV: the cash value in the sequence of payments.

FV (optional): the future value, which is reached at the end of the periodic payments.

Type (optional): the due date of the periodic payment, either at the beginning or at the end of a period.

GUESS (optional): determines the estimated value of the interest with iterative calculation.

In the LibreOffice 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.

Example

What is the constant interest rate for a payment period of 3 periods if 10 currency units are paid regularly and the present cash value is 900 currency units.

=RATE(3;-10;900) = -75.63% The interest rate is therefore 75.63%.

\<bookmark_value\>calculating;rates of return\</bookmark_value\>\<bookmark_value\>RRI function\</bookmark_value\>

RRI

Calculates the interest rate resulting from the profit (return) of an investment.

Syntax

RRI(P;PV;FV)

P: the number of periods needed for calculating the interest rate.

PV: 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.

FV: determines what is desired as the cash value of the deposit.

Example

For four periods (years) and a cash value of 7,500 currency units, the interest rate of the return is to be calculated if the future value is 10,000 currency units.

RRI(4;7500;10000) = 7.46 %

The interest rate must be 7.46 % so that 7,500 currency units will become 10,000 currency units.

\<bookmark_value\>calculating;variable declining depreciations\</bookmark_value\>\<bookmark_value\>depreciations;variable declining\</bookmark_value\>\<bookmark_value\>VDB function\</bookmark_value\>

VDB

Returns the depreciation of an asset for a specified or partial period using a variable declining balance method.

Syntax

VDB(Cost; Salvage; Life; S; End [; Factor [; NoSwitch]])

Cost: the initial value of an asset.

\<emph\>Salvage\</emph\> is the value of an asset after depreciation.

Life: the depreciation duration of the asset.

S: the start of the depreciation. A must be entered in the same date unit as the duration.

End: the end of the depreciation.

Factor (optional): the depreciation factor. Factor=2 is double rate depreciation.

NoSwitchis an optional parameter. NoSwitch = 0 (default) means a switch to linear depreciation. In NoSwitch = 1 no switch is made.

In the LibreOffice 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.

Example

What is the declining-balance double-rate depreciation for a period if the initial cost is 35,000 currency units and the value at the end of the depreciation is 7,500 currency units. The depreciation period is 3 years. The depreciation from the 10th to the 20th period is calculated.

VDB(35000;7500;36;10;20;2) = 8603.80 currency units. The depreciation during the period between the 10th and the 20th period is 8,603.80 currency units.

\<bookmark_value\>calculating;internal rates of return, irregular payments\</bookmark_value\>\<bookmark_value\>internal rates of return;irregular payments\</bookmark_value\>\<bookmark_value\>XIRR function\</bookmark_value\>

XIRR

Calculates the internal rate of return for a list of payments which take place on different dates. The calculation is based on a 365 days per year basis, ignoring leap years.

If the payments take place at regular intervals, use the IRR function.

Syntax

XIRR(Values; Dates [; Guess])

Values and dates: a series of payments and the series of associated date values. The first pair of dates defines the start of the payment plan. All other date values must be later, but need not be in any order. The series of values must contain at least one negative and one positive value (receipts and deposits).

Guess (optional): a guess can be input for the internal rate of return. The default is 10%.

Example

Calculation of the internal rate of return for the following five payments:

A

B

C

1

01/01/01

-10000

Received

2

2/1/2001

2000

Deposited

3

3/15/2001

2500

4

5/12/2001

5000

5

8/10/2001

1000


=XIRR(B1:B5; A1:A5; 0.1) returns 0.1828.

\<bookmark_value\>XNPV function\</bookmark_value\>

XNPV

Calculates the capital value (net present value) for a list of payments which take place on different dates. The calculation is based on a 365 days per year basis, ignoring leap years.

If the payments take place at regular intervals, use the NPV function.

Syntax

XNPV(Rate;Values;Dates)

Rate: the internal rate of return for the payments.

Values and dates: a series of payments and the series of associated date values. The first pair of dates defines the start of the payment plan. All other date values must be later, but need not be in any order. The series of values must contain at least one negative and one positive value (receipts and deposits)

Example

Calculation of the net present value for the above-mentioned five payments for a national internal rate of return of 6%.

=XNPV(0.06; B1:B5; A1:A5) returns 323.02.

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Functions by Category

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