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DISC function for Sheets

2 min read
I. Intro
The DISC function calculates the discount rate of a security.
II. About the function
  • Formula: = DISC(settlement,maturity,pr,redemption,frequency,[basis])
  • Parameters:
  • settlement (required): The settlement date of the security (the date after the issue date when the buyer takes ownership of the security).
  • maturity (required): The maturity date or end date of the security (the date when the security can be redeemed at face or par value).
  • pr (required): The purchase price of the security (per $100 face value).
  • redemption (required): The redemption value of the security (per $100 face value or par value).
  • [basis] (optional): The method used to calculate the number of days in a year. See COUPDAYSNC for more details.
  • Example: =DISC("2010-1-2","2039-12-31",90,100,0)
  • Note:
  • If settlement is not a valid date, then the error value #VALUE! is returned.
  • If pr ≤ 0 or if redemption ≤ 0, then the error value #NUM! is returned.
  • If [basis] < 0 or > 4, then the error value #NUM! is returned.
  • If settlement ≥ than maturity, then the error value #NUM! is returned.
III. Steps
Use the DISC function
  1. Select a cell and enter =DISC.
  1. Enter the parameters in the cell. For example: =DISC("2010-1-2","2039-12-31",90,100,0).
  1. Press Enter to display the result, which is 0.003333642 in this example.
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Delete the DISC function
Select the cell with the DISC function, and press Delete.
IV. Use cases
Financial management: Calculate the discount rate
If you know the pricing and settlement and maturity dates of a security, you can use the DISC function to calculate its discount rate.
  • Formula used below: =DISC(B2,B3,B4,B5,B6)
  • About the parameters:
  • Click B2 and B3. Make sure the settlement date in B2 is earlier than B3's maturity date.
  • Click the price in B4, the redemption amount in B5, and 1 in B6.
  • Press Enter to get the discount rate.
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Written by: Lark Help Center
Updated on 2022-09-14
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