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XLeratorDB/financial Documentation

SQL Server TBILLYIELD function


TBILLYIELD
 
Updated: 5 August 2010
Use TBILLYIELD to calculate the yield for a Treasury bill
Syntax
SELECT [westclintech].[wct].[TBILLYIELD] (
   <@Settlement, datetime,>
 ,<@Maturity, datetime,>
 ,<@Pr, float,>)
Arguments
@Settlement
the settlement date of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format. 
@Maturity
the maturity date of the security. @Maturity is an expression that returns a datetime or smalldatetime value, or a character string in date format. 
@Pr
the security’s price per 100 face value. @Pr is an expression of type float or of a type that can be implicitly converted to float.
Return Type
float
Remarks
·         If @Pr <= 0 TBILLYIELD returns an error
·         If @Settlement >= @Maturity TBILLYIELD returns an error
·         If @Maturity is more than 1 year after @Settlement TBILLYIELD returns an error
·         The following formula is used :
TBILLYIELD = (100-@Pr) / @Pr*360/DSM
Where DSM is the number of days from @Settlement to @Maturity
 
Examples
 SELECT wct.TBILLYIELD('2/1/2008'
,'6/1/2008'
,98.75)
Here is the result set
----------------------

0.0376608431844335



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