RECEIVED
What a security bought at a discount pays back at maturity.
Group: Financial. Compatible with DAX.
Syntax
RECEIVED ( <settlement>, <maturity>, <investment>, <discount> [, <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. |
discount | Number | The discount rate a year, as a decimal. |
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. What the investor gets back when the security matures.
Remarks
- It is investment / (1 − discount × the year fraction from settlement to maturity).
- An investment or discount of 0 or less, settlement on or after maturity, or a discount so large that nothing would be paid, 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 at a 3.5 % discount
182 days on actual/360.
EVALUATE
ROW (
"Received", RECEIVED ( DATE ( 2026, 11, 2 ), DATE ( 2027, 5, 3 ), 500000, 0.035, 2 )
)| Received |
|---|
| 509006.588807511 |