RECEIVED
Updated: 5 August 2010
Use RECEIVED to calculate the amount received at maturity for a fully invested security.
Syntax
SELECT [westclintech].[wct].[RECEIVED] (
<@Settlement, datetime,>
,<@Maturity, datetime,>
,<@Investment, float,>
,<@Discount, float,>
,<@Basis, nvarchar(4000),>)
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.
@Investment
the amount invested in the security. @Investment is an expression of type float or of a type that can be implicitly converted to float.
@Discount
the security’s discount rate. @Redemption is an expression of type float or of a type that can be implicitly converted to float.
@Basis
is the type of day count to use. @Basis is an expression of the character string data type category.
|
@Basis
|
Day count basis
|
|
0 or omitted
|
US (NASD) 30/360
|
|
1
|
Actual/Actual
|
|
2
|
Actual/360
|
|
3
|
Actual/365
|
|
4
|
European 30/360
|
Return Type
float
Remarks
· If @Investment <= 0 or @Discount <= 0, RECEIVED returns an error
· If @Settlement >= @Maturity, RECEIVED returns an error
· If @Basis < 0 or @Basis > 4, RECEIVED returns an error
· RECEIVED performs the following calculation:
RECEIVED = @investment/(1-(@Discount*DSM/b))
Where
b = the number of days in the year depending on the year basis
DSM = the number of days from settlement to maturity
Example
SELECT wct.RECEIVED('2/1/2008'
,'5/2/2008'
,98975
,0.0475
,0)
Here is the result set
----------------------
100177.829634992