INTRATE
For a fully invested security, the rate its investment and redemption amounts imply.
Group: Financial. Compatible with DAX.
Syntax
INTRATE ( <settlement>, <maturity>, <investment>, <redemption> [, <basis>] )| Parameter | Type | Description |
|---|---|---|
settlement | Date | The day the buyer takes the security over; later than its issue. |
maturity | Date | The day the security ends and its face value is repaid. |
investment | Number | The amount put in at settlement. |
redemption | Number | What comes back at maturity. |
basis | Whole number optional | The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4). |
Returns
Number. The simple interest rate a year the two amounts imply, as a decimal.
Remarks
- It is (redemption / investment − 1) divided by the year fraction from settlement to maturity: no compounding.
- An investment or redemption of 0 or less, or settlement on or after maturity, is an error.
- The dates are taken as whole days. basis is rounded to a whole number first; outside 0 to 4 it is an error.
Examples
500,000 that comes back as 509,000
182 days later, counted on actual/365.
EVALUATE
ROW (
"Rate", INTRATE ( DATE ( 2026, 11, 2 ), DATE ( 2027, 5, 3 ), 500000, 509000, 3 )
)| Rate |
|---|
| 0.0360989010989011 |