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web-apps/apps/spreadsheeteditor/main/resources/help/en/Functions/duration.htm

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<!DOCTYPE html>
<html>
<head>
<title>DURATION Function</title>
<meta charset="utf-8" />
<meta name="description" content="" />
<link type="text/css" rel="stylesheet" href="../editor.css" />
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<script type="text/javascript" src="../callback.js"></script>
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</head>
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<div class="mainpart">
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<input id="search" class="searchBar" placeholder="Search" type="text" onkeypress="doSearch(event)">
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</div>
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<h1>DURATION Function</h1>
<p>The <b>DURATION</b> function is one of the financial functions. It is used to calculate the Macaulay duration of a security with an assumed par value of $100.</p>
<p>The <b>DURATION</b> function syntax is:</p>
<p style="text-indent: 150px;"><b><em>DURATION(settlement, maturity, coupon, yld, frequency[, [basis]])</em></b></p>
<p><em>where</em></p>
<p style="text-indent: 50px;"><b><em>settlement</em></b> is the date when the security is purchased.</p>
<p style="text-indent: 50px;"><b><em>maturity</em></b> is the date when the security expires.</p>
<p style="text-indent: 50px;"><b><em>coupon</em></b> is the annual coupon rate of the security.</p>
<p style="text-indent: 50px;"><b><em>yld</em></b> is the annual yield of the security.</p>
<p style="text-indent: 50px;"><b><em>frequency</em></b> is the number of interest payments per year. The possible values are: 1 for annual payments, 2 for semiannual payments, 4 for quarterly payments.</p>
<p style="text-indent: 50px;"><b><em>basis</em></b> is the day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. It can be one of the following:</p>
<table style="width: 40%">
<tr>
<td><b>Numeric value</b></td>
<td><b>Count basis</b></td>
</tr>
<tr>
<td>0</td>
<td>US (NASD) 30/360</td>
</tr>
<tr>
<td>1</td>
<td>Actual/actual</td>
</tr>
<tr>
<td>2</td>
<td>Actual/360</td>
</tr>
<tr>
<td>3</td>
<td>Actual/365</td>
</tr>
<tr>
<td>4</td>
<td>European 30/360</td>
</tr>
</table>
<p class="note"><b>Note:</b> dates must be entered by using the DATE function.</p>
<p>The values can be entered manually or included into the cell you make reference to.</p>
<p>To apply the <b>DURATION</b> function,</p>
<ol>
<li>select the cell where you wish to display the result,</li>
<li>
Update helps.
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click the <b>Insert function</b> <img alt="Insert function icon" src="../images/insertfunction.png" /> icon situated at the top toolbar,
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<br />or right-click within a selected cell and select the <b>Insert Function</b> option from the menu,
<br />or click the <img alt="Function icon" src="../images/function.png" /> icon situated at the formula bar,
</li>
<li>select the <b>Financial</b> function group from the list,</li>
<li>click the <b>DURATION</b> function,</li>
<li>enter the required arguments separating them by commas,</li>
<li>press the <b>Enter</b> button.</li>
</ol>
<p>The result will be displayed in the selected cell.</p>
<p style="text-indent: 150px;"><img alt="DURATION Function" src="../images/duration.png" /></p>
</div>
</body>
</html>
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