Fintrate()

Description:

The function equals the Excel INTRATE function.

Syntax:

Fintrate (settlement,maturity;investment,redemption)

Note:

The function returns the interest rate for a security that pays interest at maturity, with the day count basis method as US (NASD) 30/360.

Parameters:

settlement

The security's settlement date

maturity

The security's maturity date

investment

The initial amount invested into the security

redemption

The security's redemption value

Options

@1

Specify the day count basis method Actual/Actual. It corresponds to the Excel basis parameter.

@0

Specify the day count basis method Actual/360. It corresponds to the Excel basis parameter.

@5

Specify the day count basis method Actual/365. It corresponds to the Excel basis parameter.

@e

Specify the day count basis method European 30/360. It corresponds to the Excel basis parameter.

Example:

Fintrate@0(date("2001-2-15"),date("2001-5-15");1000000,1014420)

0.058328089887640454