Apple iWork '09 User Manual
Page 139
Chapter 6
Financial Functions
139
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redemption: The redemption value per $100 of par value. redemption is a number
value that must be greater than 0. redemption is the amount that will be received
per $100 of face value. Often, it is 100, meaning that the security’s redemption value
is equal to its face value.
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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
In this example, the PRICEDISC function is used to determine the purchase price when trading the
hypothetical security described by the values listed. The security does not pay interest and is sold at
a discount.
The function evaluates to approximately $65.98, which represents the price per $100 of face value.
settle
maturity
discount
redemption
days-basis
=PRICEDISC (B2,
C2, D2, E2, F2)
05/01/2009
06/30/2015
0.0552
100
0
Related Topics
For related functions and additional information, see:
“PRICEMAT” on page 140
“YIELDDISC” on page 152
“Common Arguments Used in Financial Functions” on page 341
“Listing of Financial Functions” on page 96
“Value Types” on page 36
“The Elements of Formulas” on page 15
“Using the Keyboard and Mouse to Create and Edit Formulas” on page 26
“Pasting from Examples in Help” on page 41