BOND FIGURATION 
Date Calculations 
COUPDAYBS 
Calculate the number of days from the beginning of the coupon period to the settlement date. 
COUPDAYS 
Calculate the number of days in the coupon period that contains the settlement date. 
COUPDAYSNC 
Calculate the number of days from the settlement date to the next coupon date. 
COUPNCD 
Calculate the next coupon date after the settlement date. 
COUPNUM 
Calculate the number of coupons payable between the settlement date and maturity date rounded up to the nearest whole coupon. 
COUPPCD 
Calculate the immediately previous coupon date before the settlement date. 

Accrued Interest 
ACCINTACT 
Calculate the accrued interest on a bond where the coupon amounts are calculated as the actual number of days in the coupon period divided by the number of days in the year. 
ACCRINT 
Calculate the accrued interest for a security that pays interest at maturity. 
ACCRINTM 
Calculate the accrued interest for a security that pays interest at maturity. 
AIFACTOR 
Calculate the Accrued Interest Factor. 
AIFACTOR_IAM 
Calculate the Accrued Interest Factor for an InterestatMaturity security. 
AIFACTOR_OFC 
Calculate the Accrued Interest Factor for a bond during its odd first coupon period. 
AIFACTOR_OLC 
Calculate the Accrued Interest Factor for a bond during its odd last coupon period. 
AIFACTOR_RPI 
Calculate Accrued Interest Factor for a Regular Periodic Interest period. 
AMORTRATE 
Calculate the constant daily effective rate to be used in the amortization/accretion of bond (or loan) premium or discount. 
BONDAMORT 
Generate a bond amortization schedule from the settlement date to the maturity date of the bond. 
BONDINT 
Calculate the accrued interest on a bond that pays regular, periodic interest. 
COMPINT 
Calculate the accrued interest for a security where interest is compounded periodically and paid at maturity. 
ODDCOMPINT 
Calculate the accrued interest for a security with an odd first or an odd last coupon period (or both) where interest is compounded periodically and paid at maturity. 
ODDFINT 
Calculate the accrued interest in the first coupon period for a bond with an odd first coupon and a par value of 100. 
ODDLINT 
Calculate the accrued for a bond with an odd last coupon and a par value of 100. 
STEPACCINT 
Calculate the accrued interest for a steppedcoupon bond with a par value of 100. 

Duration & Convexity 
CFCONVEXITY 
Calculate the convexity of a series of cash flows. 
CFDURATION 
Calculate the duration of a series of cash flows. 
CFMDURATION 
Calculate the modified duration of a series of cash flows. 
CONVEXITY 
Calculate the convexity of an option free bond. 
DURATION 
Calculate the Macaulay duration (in years) of a security with regular, periodic interest payments. 
MDURATION 
Calculate the modified duration for a security with an assumed par value of 100. 
OFCCONVEXITY 
Calculate the convexity for a bond that has an odd first coupon. 
OFCDURATION 
Calculate the duration for a bond that has an odd first coupon. 
OFCMDURATION 
Calculate the modified duration for a bond that has an odd first coupon. 
OFLCONVEXITY 
Calculate the convexity for a bond that has an odd first and an odd last coupon. 
OFLDURATION 
Calculate the duration for a bond that has an odd first and an odd last coupon. 
OFLMDURATION 
Calculate the modified duration for a bond that has an odd first and an odd last coupon. 
OLCCONVEXITY 
Calculate the convexity for a bond that has an odd last coupon. 
OLCDURATION 
Calculate the duration for a bond that has an odd last coupon. 
OLCMDURATION 
Calculate the modified duration for a bond that has an odd last coupon. 
RPICONVEXITY 
Calculate the convexity for a bond that pays regular periodic interest. 
RPIDURATION 
Calculate the duration for a bond that pays regular periodic interest. 
RPIMDURATION 
Calculate the effective duration for a bond that pays regular periodic interest. 
STEPCONVEXITY 
Calculate the convexity for a steppedcoupon bond. 
STEPDURATION 
Calculate the duration for a steppedcoupon bond. 
STEPMDURATION 
Calculate the modified duration for a steppedcoupon bond. 

Price & Yield 
BONDCF 
Calculate the cash flows of a bond with regular periodic coupon payments. 
DIRTYPRICE 
Calculate the dirty price of bond. 
DIRTYYIELD 
Calculate the yield of a bond from its dirty price. 
DIS 
Calculate the price or discount rate for a discount security. 
DISC 
Calculate the discount rate for a discount security. 
DISFACTORS 
Calculate the components used in the calculation of price, discount rate, and yield for a discount security. 
IAM 
Calculate the price or yield for a bond that pays interest at maturity and has a par value of 100. 
IAMFACTORS 
Calculate the components used in the calculation of price and yield for a security that pays interest at maturity. 
INTRATE 
Calculate the interest rate for a fully invested security. 
ODDFPRICE 
Calculate price per 100 face value of a security with an odd first period. 
ODDFYIELD 
Calculate the yield of a security with an odd first period. 
ODDLPRICE 
Calculate the price per 100 face value of a bond with an odd last coupon period. 
ODDLYIELD 
Calculate the yield of a security with an odd last coupon period. 
OFC 
Calculate the price or yield of a bond with an odd first period and a par value of 100. 
OFCFACTORS 
Calculate the components used in the calculation of price and yield for a bond with an odd first coupon. 
OFL 
Calculate the price or yield of a bond with an odd first period, an odd last period, and a par value of 100. 
OFLFACTORS 
Calculate the components used in the calculation of price and yield for a bond with an odd last coupon. 
OFLPRICE 
Calculate the price from yield per 100 face value of a bond with an odd first period and an odd last period. 
OFLYIELD 
Calculate the yield from price per 100 face value of a bond with an odd first period and an odd last period. 
OLC 
Calculate the price or yield of a bond with an odd last period and a par value of 100. 
OLCFACTORS 
Calculate the components used in the calculation of price and yield for a bond with an odd last coupon. 
PRICE 
Calculate the price for a bond that pays periodic interest and has a par value of 100. 
PRICEACT 
Calculate the price from yield of a bond where the coupon amounts are calculated as the actual number of days in the coupon period divided by the number of days in the year. 
PRICEACTTV 
Generate the cash flows of a bond where the coupon payments are calculated using the actual number of days in the coupon period divide by the days in the year. 
PRICEDISC 
Calculate the price per 100 face value for a discounted security. 
PRICEFR 
Calculate the price from yield of a bond with a forced redemption schedule where the coupon payment dates occur at regular periods and the redemptions can occur on any coupon date. 
PRICEMAT 
Calculate the price (expressed per 100 par value) of a security that pays interest at maturity. 
PRICESTEP 
Calculate the price from yield per 100 face value of a security with multiple interest coupon rates, also known as stepup rates. 
RECEIVED 
Calculate the amount received at maturity for a fully invested security. 
RPI 
Calculate the price or yield for a bond that pays periodic interest and has a par value of 100. 
RPIFACTORS 
Calculate the components used in the calculation of price and yield for a bond with regular periodic coupons. 
STEPCF 
Return the cash flows of a steppedrate bond. 
TBILLEQ 
Calculate the bondequivalent yield for a Treasury bill. 
TBILLPRICE 
Calculate the price per 100 face value for a Treasury bill. 
TBILLYIELD 
Calculate the yield for a Treasury bill. 
YIELD 
Calculate the yield, given the price, for a security that pays periodic interest and has a par value of 100. 
YIELDACT 
Calculate the yield on a bond where the coupon amounts are calculated as the actual number of days in the coupon period divided by the number of days in the year. 
YIELDDISC 
Calculate the annual yield for a discounted security; for example, a treasury bill. 
YIELDFR 
Calculate the yield given price of a bond with a forced redemption schedule where the coupon payment dates occur at regular periods and the redemptions can occur on any coupon date. 
YIELDMAT 
Calculate the annual yield of a security that pays interest at maturity. 
YIELDSTEP 
Calculate the yield from price per 100 face value of a security with multiple interest coupon rates, also known as stepup rates. 

SPREAD PRICING 
BondPriceFromZeroes *!* 
Calculate the price of a bond given its zspread and the zero coupon curve. 
CMTCurve *!* 
Calculate the spot and continuously compounded zero coupon rate from the Constant Maturity Treasury par curve 
LogNormalIRLattice *!* 
Show the zerocoupon curve, calibrated forward rates, discount factors, and cash flows used in the calculation of a bond's price using its optionadjusted spread. 
OAC *!* 
Calculate the optionadjusted convexity on a bond. 
OAD *!* 
Calculate the optionadjusted convexity on a bond. 
OAS *!* 
Calculate the optionadjusted spread on a bond. 
PriceFromIRLattice *!* 
Calculate the price of a bond given its optionadjusted spread and a zero coupon curve. 
PriceFromZeroesTVF *!* 
Show the interpolated zerocoupon curve, discount factors, forward rates, and cash flows used in the calculation of a bond's price using its Zspread. 
ZSPREAD *!* 
Calculate the zerovolatility or static spread on a bond. 

ANNUITY CALCULATIONS 
CUMIPMT 
Calculate the cumulative interest paid on a loan between any two periods. 
CUMODDFIPMT 
Calculate the cumulative interest on the periodic payments for an annuity where the first period is either longer or shorter than the other periods. 
CUMODDFPPMT 
Calculate the cumulative principal on the periodic payments for an annuity where the first period is either longer or shorter than the other periods. 
CUMPRINC 
Calculate the cumulative principal paid on a loan between any two periods. 
FV 
Calculate future value of an annuity based on periodic, constant payments and a constant interest rate. 
FVGA 
Calculate the future value of a growing annuity. 
IPMT 
Calculate interest payment for a given period for an annuity based on periodic, constant payments and a constant interest rate. 
NPER 
Calculate the number of periods for an annuity. 
NPERGA 
Calculate the number of whole periods for a growing annuity to reach a future value. 
ODDFIPMT 
Calculate the interest portion of a periodic payment for an annuity where the first period is either longer or shorter than the other periods. 
ODDFPMT 
Calculate the periodic payment for an annuity where the first period is either longer or shorter than the other periods. 
ODDFPMTSCHED 
Calculate an amortization schedule for an annuity where the first period is either longer or shorter than all the other periods. 
ODDFPPMT 
Calculate the principal portion of a periodic payment for an annuity where the first period is either longer or shorter than the other periods. 
ODDFPV 
Calculate the present value of an annuity where the first period is either longer or shorter than the other periods. 
ODDFRATE 
Calculate the periodic interest rate for an annuity where the first period is either longer or shorter than the other periods. 
ODDPV 
Calculate the present value of an annuity with an odd first period. 
PMT 
Calculate the periodic payment for an annuity. 
PMTGA 
Calculate the initial payment for a growing annuity, given the future value. 
PMTSCHED 
Calculate an amortization schedule for a loan with no odd periods. 
PPMT 
Calculate principal payments for an annuity for a given period. 
PV 
Calculate the present value of an annuity. 
PVGA 
Calculate the present value of a growing annuity. 
RATE 
Calculate the interest rate per period of an annuity. 

INTERNAL RATES OF RETURN 
AMORTIZECASHFLOWS 
Calculate a schedule showing the discounted cash flow value of a series of cash flows at each cash flow date. 
CDRCashflowIRR 
Calculate the internal rate of return on cash flows produced using the CDRCASHFLOW inputs. 
IRR 
Calculate an internal rate of return for a series of cash flows. 
MIRR 
Calculate the modified internal rate of return, where positive and negative cash flows are financed at different rates. 
XIRR 
Calculate an internal rate of return for a series of cash flows on different dates. 
XIRR30360 
Calculate an internal rate of return for a series of irregular cash flows using a 30/360 daycount convention. 
XIRRT 
Calculate an internal rate of return for a series of cash flows with irregular time periodsâ€”cash flows of varying amount occurring at various points in time. 
XMIRR 
Calculate the modified internal rate of return, where positive and negative cash flows are financed at different rates and where the cash flows occur irregularly and are specified by date. 

NET PRESENT VALUE 
CDRCashflowDCF 
Calculate the discounted cash flow value for a loan with a fixed periodic payment with Conditional Prepayment Rates (CPR) and Constant Default Rates (CDR) applied. 
EFV 
Calculate the future value of a cash flow between two periods. 
ENPV 
Calculate the net present value of an investment based on a series of periodic cash flows and a discount rate. 
EPV 
Calculate the discounted value of a cash flow between two periods. 
NFV 
Calculate the net future value of an investment based on a series of periodic cash flows and a rate. 
NPV 
Calculate the net present value of an investment based on a series of periodic cash flows and a discount rate. 
XDCF 
Calculate the discounted cash flows value of a series of irregular cash flowsâ€”cash flows of varying amounts occurring on various dates. 
XFV 
Calculate the future value of a cash flow between two dates. 
XNFV 
Calculate the net future value of a series of irregular cash flowsâ€”cash flows of varying amounts occurring on various dates. 
XNPV 
Calculate the net present value of a series of irregular cash flowsâ€”cash flows of varying amounts occurring on various dates. 
XNPV30360 
Calculate the net present value for a series of cash flows with irregular time periodsâ€”cash flows of varying amount occurring at various points in timeâ€”using a 30/360 daycount convention.. 
XNPVT 
Calculate the net present value for a series of cash flows with irregular time periodsâ€”cash flows of varying amount occurring at various points in time. 
XPV 
Calculate the discounted value of a cash flow between two dates. 

TIME WEIGHTED RATE OF RETURN 
EMDIETZ 
Calculate the performance of an investment portfolio based on timeweighted cash flows. 
GTWRR 
Calculate timeweighted rates of return. 
LMDIETZ 
Calculate the linked Modified Dietz. 
TWROR 
Calculate timeweighted rates of return, allowing you to specify which cash flows are used in the numerator of the calculation and which cash flows are used in the denominator. 
TWRR 
Calculate timeweighted rate of return. 

CAPITAL ASSET PRICING MODEL 
BetaCoKurt 
Calculate the betacokurtosis of an asset return and a benchmark return. 
BetaCoSkew 
Calculate the betacoskewness of an asset return and a benchmark return. 
BetaCoVar 
Calculate the betacovariance of an asset return and a benchmark return. 
DownsideDeviation 
Calculate the downside deviation of asset returns. 
DownsideFrequency 
Calculate the downside frequency of asset returns. 
DownsidePotential 
Calculate the downside potential of asset returns. 
EQALPHA 
Calculate the intercept of the security characteristic line (SCL), between an asset and a specified benchmark. 
EQBETA 
Calculate the correlated volatility (beta) between an asset and a specified benchmark. 
EQVOLATILITY 
Calculate the historical volatility based upon price or valuation data. 
FinCoKurt 
Calculate the cokurtosis of an asset return and a benchmark return. 
FinCoSkew 
Calculate coskewness of an asset return and a benchmark return. 
INFORATIO 
Calculate the Information ratio based upon return data. 
INFORATIO2 
Calculate the Information ratio based upon price or valuation data. 
MAXDD 
Calculate the maximum drawdown based on net asset or portfolio values. 
MAXDD2 
Calculate the maximum drawdown based on net asset or portfolio returns. 
MOIC 
Calculate the multiple of invested capital. 
Omega 
Calculate the Omega of asset returns. 
OmegaExcessReturn 
Calculate the Omega Excess Return. 
OmegaSharpeRatio 
Calculate the OmegaSharpe ratio of asset returns. 
SemiDeviation 
Calculate the semideviation of asset returns. 
SemiVariance 
Calculate the semivariance of asset returns. 
SHARPE 
Calculate the Sharpe ratio based upon return data. 
SHARPE2 
Calculate the Sharpe ratio based upon price or valuation data. 
SORTINO 
Calculate the Sortino ratio based upon return data. 
SORTINO2 
Calculate the Sortino ratio based upon price data. 
SpecificRisk 
Calculate Specific Risk, the standard deviation of the error term in the regression equation. 
SystematicRisk 
Calculate the Systematic Risk. 
TotalRisk 
Calculate Total Risk. 
TREYNOR 
Calculate the Treynor ratio based upon return data. 
TREYNOR2 
Calculate the Treynor ratio based upon price or valuation data. 
UpsideFrequency 
Calculate the upside frequency of asset returns. 
UpsidePotentialRatio 
Calculate the Upside Potential Ratio. 
UpsideRisk 
Calculate the Upside Risk, Upside Variance or Upside Deviation. 

LOANS 
Payment Calculations 
CUMLIPMT 
Calculate the cumulative interest payments for a specified range of periods for a loan or lease. 
CUMLPPMT 
Calculate the cumulative principal payments for a loan or lease. 
EFFECT 
Calculate the effective annual interest rate. 
FVSCHEDULE 
Calculate the future value of an initial investment using a series of compound rates. 
LIPMT 
Calculate the periodic payment for a loan or lease. 
LPMT 
Calculate the periodic payment for a loan or lease. 
LPMTSCHED 
Generate a loan amortization schedule. 
LPPMT 
Calculate the principal payment for a specified payment for a loan or lease. 
LRATE 
Calculate the annual interest rate for an annuity with an odd first period. 
NOMINAL 
Calculate the annual nominal interest rate. 
NUMPMTS 
Calculate the number of payments from the first interest payment date to the last payment date; in other words, the total number of payments over the life of the loan. 
TOTALINT 
Calculate the total interest on a loan or lease.. 

Loan Amortization 
AMORTSCHED 
Generate a loan amortization schedule. 
Balloon 
Calculate the cash flow schedule for a loan with periodic payments of interest (only) and with the principal paid at maturity.. 
Bullet 
Calculate the cash flow schedule for a loan with a single payment of principal and interest at maturity. 
CDRCashflow 
Calculate a cashflow schedule for a loan with a fixed periodic payment with Conditional Prepayment Rates (CPR) and Constant Default Rates (CDR) applied. 
ConstantCashFlow 
Calculate the cash flow schedule for a loan with a fixed maturity date and annuitystyle payments. 
ConstantCashFlowFR 
Calculate the cash flow schedule for a loan with a fixed maturity date and annuitystyle payments using a table of forward rates to calculate each periodic payment. 
ConstantPaymentAmount 
Calculate the cash flow schedule for a loan with a fixed payment amount but no fixed maturity date. 
ConstantPrincipal 
Calculate the cash flow schedule for a loan with a fixed maturity date where the principal is reduced on a straightline basis. 
ConstantPrincipalAmount 
Calculate the cash flow schedule for a loan with no fixed maturity date where the principal is reduced using a fixed amount. 
ConstantPrincipalRate 
Calculate the cash flow schedule for a loan with no fixed maturity date where the principal is reduced on using a fixed rate. 
CONSTPRINAMORT 
Calculate an amortization schedule for a loan with a fixed principal repayment. 
NPD 
Calculate the next payment date for loan with regularly scheduled periodic payments. 
NPNO 
Calculate the next payment number for loan with regularly scheduled periodic payments. 
PPD 
Calculate the previous payment date for loan with regularly scheduled periodic payments. 
PAYMENTPERIODS 
Calculate return the number of months from a reference date to: an initial grace period; the start of interim grace period; and the end of interim grace period. 
PERIODRATE 
Calculate the nominal rate for a loan or other financial instrument when the compounding period of the quoted rate and the compounding period for the calculation of the loan are different. 
PPNO 
Calculate the previous payment number for loan with regularly scheduled periodic payments.. 
UNEQUALLOANPAYMENTS 
Calculate a payment schedule for a loan where the interest payment frequency and the principal payment frequency are different, or the loan starts with an interest only schedule with principal repayments commencing after the first interest payment date.. 

Ruleof78 
R78IPMT 
Calculate the interest payment for a specified payment for a loan or lease using the Rule of 78. 
R78PAYOFF 
Calculate the payoff amount for a loan or lease using the Rule of 78. 
R78PPMT 
Calculate the principal payment for a specified payment for a loan or lease using the Rule of 78. 
R78REBATE 
Calculate the rebate amount for a loan or lease using the Rule of 78. 

DEPRECIATION 
DB 
Calculate the depreciation of an asset for a specified period using the fixeddeclining balance method. 
DDB 
Calculate the depreciation of an asset for a specified period using the doubledeclining balance method or some other userspecified method. 
SLN 
Calculate the straightline depreciation of an asset for one period. 
SYD 
Calculate the sumofyears' digits depreciation of an asset for a specified period. 
VDB 
Calculate the depreciation of an asset for a specified or partial period by using a declining balance method. 

YIELD CURVES 
Yield Curve Construction 
DFINTERP 
Calculate the interpolated discount factor given a date. 
ED_FUT_CONV_ADJ_HL 
Calculate a Eurodollars futures price into a forward rate using the Ho Lee convexity adjustment formula. 
INTERPDFACT 
Calculate interpolated discount factors for a range of dates. 
SWAPCURVE 
Calculate e discount factors, zerocoupon rates, and continuously compounded zerocoupon rates from a series of cash rates, futures prices, or swaps rates. 
ZEROCOUPON 
Calculate an interpolated zerocoupon rate from a series of cash rates, futures prices, or swaps rates. 

Nelson Siegel 
NELSONSIEGEL 
Calculate the zero coupon rate for a date from the supplied parameters. 
NSCOEF 
Calculate the Nelson Siegel coefficients for a zero coupon curve. 
NSCOEF2 
Calculate the Nelson Siegel coefficients for a zero coupon curve. 

Date Calculations for Yield Curves 
ED_FUTYF 
Calculate the amount of time (in years) from a start date to the delivery date of a futures contract. 
ED_FUT2DATE 
Calculate a Eurodollar futures delivery code into a delivery date. 
TENOR2DATE 
Convert an alphanumeric expression into a swaps or money market maturity date. 

BUSINESS DAYS CALCULATIONS 
Businesss Day Calculations 
BUSDAYS 
Calculate the number of business days from a start date (inclusive) to an end date (exclusive). 
BUSDAYSWE 
Calculate the number of business days from a start date (inclusive) to an end date (exclusive), where the weekend days are not Saturday and Sunday. 
BUSINESSDATE 
Calculate a new date taking holidays and weekends into account. 
BUSINESSDATEWE 
Calculate a new date taking holidays and weekends into account. 
T360 
Calculate the number of periods (fractional part included) from a cash flow date to a settlement date. 

Date Functions 
CALCDATE 
Calculate a datetime value for a specified Year, Month, and Day. 
DATEFLOAT 
Calculate a float value for a specified Year, Month, and Day.. 
DATEINT 
Calculate an integer value for a specified Year, Month, and Day. 
DAYS360 
Calculate the number of days from a start date (inclusive) to an end date (exclusive) using any of several 30/360 day count conventions. 
DAYSINMONTH 
Calculate the number of days in the month of the specified date. 
DAYSINYEAR 
Calculate the number of days in the year of the specified date. 
DAYSNL 
Calculate the number of days from a start date (inclusive) to an end date (exclusive) excluding all occurrences of Feb29. 
EASTER 
Calculate the date of Western Easter for the specified year. 
EDATE 
Calculate the date that is the indicated number of months before or after a specified date (the start date). 
EOMONTH 
Calculate the date for the last day of the month that is the indicated number of months before or after the start date. 
FIRSTWEEKDAY 
Calculate the first specified day of the week in any calendar month. 
ISREGULARPAY 
Calculate if a date is a regular payment date for a loan given the first payment date, the issue date, and the number of payments per year. 
LASTWEEKDAY 
Calculate the last specified day of the week in any calendar month. 
NUMMONTHS 
Calculate the number of months between 2 dates. 
YEARFRAC 
Calculate the fraction of the year represented by the number of whole days between two dates. 

MISC FUNCTIONS 
DOLLARDE 
Dollar  fraction to Decimal 
DOLLARFR 
Calculate a dollar price, expressed as a decimal number, into a dollar price, expressed as a fraction. 

VS Demo App 
Visual Studio Demo application (zipped) containing code examples illustrating how to call XLeratorDLL/financial functions Requires adding a reference to the XLeratorDLL binary (.DLL) file installed from the downloaded trial or purchased package 
