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− | {{Documentation/MasterTOC | + | {{DISPLAYTITLE: COUPDAYS function}} |
− | |bookid=1234'''
| + | {{Documentation/CalcFunc FinancialTOC |
− | |booktitle=<div style="padding: 8px; font-size: 140%; font-weight: bold; background-color: #9BC0F5;">CALC FUNCTIONS</div>
| + | |ShowPrevNext=block |
− | |ShowParttitle=block|parttitle=[[Documentation/How_Tos/Calc:_Financial_functions|<div style="font-size: 140%;">Financial Functions]]
| + | |PrevPage=Documentation/How_Tos/Calc:_COUPDAYBS_function |
− | |ShowNextPage=block|NextPage=Documentation/How_Tos/Calc:_COUPDAYSNC_function | + | |NextPage=Documentation/How_Tos/Calc:_COUPDAYSNC_function |
− | |ShowPrevPage=block|PrevPage=Documentation/How_Tos/Calc:_COUPDAYBS_function
| + | }}__NOTOC__ |
− | |ShowPrevPart=block|PrevPart=Documentation/How_Tos/Calc:_Date_%26_Time_functions | + | |
− | |ShowNextPart=block|NextPart=Documentation/How_Tos/Calc:_Information_functions
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− | |toccontent= <div style="padding: 4px; font-size: 130%; font-weight: hidden; background-color:#DCE9FC;">FUNCTIONS</div>
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− | <div style="font-size: 140%; border-style: outset outset outset none; border-color:#DCE9FC;">Depreciation</div>
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− | * [[Documentation/How_Tos/Calc:_AMORDEGRC_function|<div style="font-size: 120%;">Amordegrc]]
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− | * [[Documentation/How_Tos/Calc:_AMORLINC_function|<div style="font-size: 120%;">Amorlinc]]
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− | * [[Documentation/How_Tos/Calc:_DB_function|<div style="font-size: 120%;">Db]]
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− | * [[Documentation/How_Tos/Calc:_DDB_function|<div style="font-size: 120%;">Ddb]]
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− | * [[Documentation/How_Tos/Calc:_SLN_function|<div style="font-size: 120%;">Sln]]
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− | * [[Documentation/How_Tos/Calc:_SYD_function|<div style="font-size: 120%;">Syd]]
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− | * [[Documentation/How_Tos/Calc:_VDB_function|<div style="font-size: 120%;">Vdb]]
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− | <div style="font-size: 140%; border-style: outset outset outset none; border-color:#DCE9FC;">Payment Streams, Annuities, Loans</div>
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− | * [[Documentation/How_Tos/Calc:_CUMIPMT_function|<div style="font-size: 120%;">Cumipmt]]
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− | * [[Documentation/How_Tos/Calc:_CUMIPMT_ADD_function|<div style="font-size: 120%;">Cumipmt Add]]
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− | * [[Documentation/How_Tos/Calc:_CUMPRINC_function|<div style="font-size: 120%;">Cumprinc]]
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− | * [[Documentation/How_Tos/Calc:_CUMPRINC_ADD_function|<div style="font-size: 120%;">Cumpinc Add]]
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− | * [[Documentation/How_Tos/Calc:_FV_function|<div style="font-size: 120%;">Fv]]
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− | * [[Documentation/How_Tos/Calc:_FVSCHEDULE_function|<div style="font-size: 120%;">Fvschedule]]
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− | * [[Documentation/How_Tos/Calc:_IPMT_function|<div style="font-size: 120%;">Ipmt]]
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− | * [[Documentation/How_Tos/Calc:_IRR_function|<div style="font-size: 120%;">Irr]]
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− | * [[Documentation/How_Tos/Calc:_ISPMT_function|<div style="font-size: 120%;">Ispmt]]
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− | * [[Documentation/How_Tos/Calc:_MIRR_function|<div style="font-size: 120%;">Mirr]]
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− | * [[Documentation/How_Tos/Calc:_NPER_function|<div style="font-size: 120%;">Nper]]
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− | * [[Documentation/How_Tos/Calc:_NPV_function|<div style="font-size: 120%;">Npv]]
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− | * [[Documentation/How_Tos/Calc:_PMT_function|<div style="font-size: 120%;">Pmt]]
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− | * [[Documentation/How_Tos/Calc:_PPMT_function|<div style="font-size: 120%;">Ppmt]]
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− | * [[Documentation/How_Tos/Calc:_PV_function|<div style="font-size: 120%;">Pv]]
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− | * [[Documentation/How_Tos/Calc:_RATE_function|<div style="font-size: 120%;">Rate]]
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− | * [[Documentation/How_Tos/Calc:_RRI_function|<div style="font-size: 120%;">Rri]]
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− | * [[Documentation/How_Tos/Calc:_XIRR_function|<div style="font-size: 120%;">Xirr]]
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− | * [[Documentation/How_Tos/Calc:_XNPV_function|<div style="font-size: 120%;">Xnpv]]
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− | <div style="font-size: 140%; border-style: outset outset outset none; border-color:#DCE9FC;">Securities</div>
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− | * [[Documentation/How_Tos/Calc:_ACCRINT_function|<div style="font-size: 120%;">Accrint]]
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− | * [[Documentation/How_Tos/Calc:_ACCRINTM_function|<div style="font-size: 120%;">Accrintm]]
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− | * [[Documentation/How_Tos/Calc:_DISC_function|<div style="font-size: 120%;">Disc]]
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− | * [[Documentation/How_Tos/Calc:_DURATION_function|<div style="font-size: 120%;">Duration]]
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− | * [[Documentation/How_Tos/Calc:_DURATION_ADD_function|<div style="font-size: 120%;">Duration Add]]
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− | * [[Documentation/How_Tos/Calc:_EFFECTIVE_function|<div style="font-size: 120%;">Effective]]
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− | * [[Documentation/How_Tos/Calc:_EFFECT_ADD_function|<div style="font-size: 120%;">Effect Add]]
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− | * [[Documentation/How_Tos/Calc:_INTRATE_function|<div style="font-size: 120%;">Intrate]]
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− | * [[Documentation/How_Tos/Calc:_MDURATION_function|<div style="font-size: 120%;">Mduration]]
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− | * [[Documentation/How_Tos/Calc:_NOMINAL_function|<div style="font-size: 120%;">Nominal]]
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− | * [[Documentation/How_Tos/Calc:_NOMINAL_ADD_function|<div style="font-size: 120%;">Nominal Add]]
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− | * [[Documentation/How_Tos/Calc:_ODDFPRICE_function|<div style="font-size: 120%;">Oddfprice]]
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− | * [[Documentation/How_Tos/Calc:_ODDFYIELD_function|<div style="font-size: 120%;">Oddfyield]]
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− | <div style="font-size: 140%; border-style: outset outset outset none; border-color:#DCE9FC;">Coupons</div>
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− | * [[Documentation/How_Tos/Calc:_COUPDAYBS_function|<div style="font-size: 120%;">Coupdaybs]]
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− | * [[Documentation/How_Tos/Calc:_COUPDAYS_function|<div style="font-size: 120%; border-style: double; border-color:#778899;">Coupdays]]
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− | * [[Documentation/How_Tos/Calc:_COUPDAYSNC_function|<div style="font-size: 120%;">Coupdaysnc]]
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− | * [[Documentation/How_Tos/Calc:_COUPNCD_function|<div style="font-size: 120%;">Coupncd]]
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− | * [[Documentation/How_Tos/Calc:_COUPNUM_function|<div style="font-size: 120%;">Coupnum]]
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− | * [[Documentation/How_Tos/Calc:_COUPPCD_function|<div style="font-size: 120%;">Couppcd]]
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− | <div style="font-size: 140%; border-style: outset outset outset none; border-color:#DCE9FC;">Miscellaneous</div>
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− | * [[Documentation/How_Tos/Calc:_DOLLARDE_function|<div style="font-size: 120%;">Coupdaybs]]
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− | * [[Documentation/How_Tos/Calc:_DOLLARFR_function|<div style="font-size: 120%;">Coupdays]]
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− | }}__TOC__ | + | |
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| == COUPDAYS == | | == COUPDAYS == |
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| === Example: === | | === Example: === |
| <tt>'''COUPDAYS("2007-01-25"; "2009-11-15"; 2; 4)'''</tt> | | <tt>'''COUPDAYS("2007-01-25"; "2009-11-15"; 2; 4)'''</tt> |
− | : returns <tt>'''180'''</tt>. A bond is originally issued on 15 November 1999, with a ten year term; the date of maturity is 15 November 2009. You subsequently purchase it on the secondary market, with a settlement date of 25 January 2007; Interest is paid half-yearly (<tt>'''frequency'''</tt> is 2); thus interest is due on the 15 May and the 15 November each year, during the bond's term. Using basis 4, there are 180 days (= 6 * 30) in the interest period in which the settlement date falls (16 November 2006 to 15 May 2007 inclusive = 6 months). | + | : returns <tt>'''180'''</tt>. A bond is originally issued on 15 November 1999, with a ten-year term; the date of maturity is 15 November 2009. You subsequently purchase it on the secondary market, with a settlement date of 25 January 2007; Interest is paid half-yearly (<tt>'''frequency'''</tt> is 2); thus interest is due on the 15 May and the 15 November each year, during the bond's term. Using basis 4, there are 180 days (= 6 * 30) in the interest period in which the settlement date falls (16 November 2006 to 15 May 2007 inclusive = 6 months). |
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| === Issues: === | | === Issues: === |
− | * For any <tt>'''basis'''</tt> except 1, the length of the interest period is calculated from the length of a year. Thus <tt>'''COUPDAYS'''</tt> returns the same number of days (derived from the number of interest periods in a year), regardless of settlement date, unless <tt>'''basis'''</tt> = 1, when the exact number of days are returned. | + | * For any <tt>'''basis'''</tt> except 1, the length of the interest period is calculated from the length of a year. Thus, <tt>'''COUPDAYS'''</tt> returns the same number of days (derived from the number of interest periods in a year), regardless of settlement date, unless <tt>'''basis'''</tt> = 1, when the exact number of days are returned. |
| * Both Calc and Excel can return a non-integer number of days (including a fraction) - for example <tt>'''COUPDAYS("2007-01-25"; "2009-11-15"; 2; 3)'''</tt> returns <tt>'''182.5'''</tt> (= 365/2). | | * Both Calc and Excel can return a non-integer number of days (including a fraction) - for example <tt>'''COUPDAYS("2007-01-25"; "2009-11-15"; 2; 3)'''</tt> returns <tt>'''182.5'''</tt> (= 365/2). |
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