TBILLEQ function

TBILLEQ (SettlementDate, MaturityDate, DiscountRate) TBILLEQ (SettlementDate; MaturityDate; DiscountRate)

SettlementDate

Temporal Temporal

The settlement (purchase) date of the US Treasury bill.

MaturityDate

Temporal Temporal

The maturity (redemption) date of the US Treasury bill.

DiscountRate

Number Number

The discount rate of the US Treasury bill.

Returns

Number Number

The bond-equivalent-yield (BEY) for a US Treasury bill.

Returns the bond-equivalent yield (BEY) for a US Treasury bill. The BEY converts the discount-basis yield of a T-bill into an annualized yield that is comparable to coupon-bearing bonds.

Example

TBILLEQ ( DATE (2010, 3, 15), DATE (2010, 9, 15), 5 % )

TBILLEQ ( DATE (2010; 3; 15); DATE (2010; 9; 15); 5 % )

Returns a bond-equivalent yield of roughly 5.20% for a Treasury bill purchased on March 15, 2010, maturing on September 15, 2010, with a discount rate of 5%.