Apple iWork '09 - Manual (Page 107)

Chapter 6 Financial Functions 107
COUPDAYS
The COUPDAYS function returns the number of days in the coupon period in which
settlement occurs.
COUPDAYS(settle, maturity, frequency, days-basis)
 settle: The trade settlement date. settle is a date/time value. The trade settlement
date is usually one or more days after the trade date.
 maturity: The date when the security matures. maturity is a date/time value. It must
be after settle.
 frequency: The number of coupon payments each year.
annual (1): One payment per year.
semiannual (2): Two payments per year.
quarterly (4): Four payments per year.
 days-basis: An optional argument specifying the number of days per month and
days per year used in the calculations.
30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD
method for dates falling on the 31st of a month.
actual/actual (1): Actual days in each month, actual days in each year.
actual/360 (2): Actual days in each month, 360 days in a year.
actual/365 (3): Actual days in each month, 365 days in a year.
30E/360 (4): 30 days in a month, 360 days in a year, using the European method for
dates falling on the 31st of a month (European 30/360).
Example
Assume you are considering the purchase of the hypothetical security described by the values listed.
You could use the COUPDAYS function to determine the number of days in the settlement date
coupon period. The function returns 91, since there are 91 days in the coupon period beginning
April 1, 2010, and ending on June 30, 2010.
settle maturity frequency days-basis
=COUPDAYS(B2, C2,
D2, E2, F2, G2) 4/2/2010 12/31/2015 4 1