To calculate the price of a bond with an irregular first period, you might use the ODDFPRICE function.
Payments are semi-annual, the day count basis is US 30/360, and the redemption value is $100.
Entering dates
In Excel,dates are serial numbers.
To enter valid dates directly inside a function, it’s possible for you to use theDATE function.
To illustrate, the formula below has all values hardcoded.
The ODDFPRICE function allows 5 options (0-4) and defaults to zero, which specifies US 30/360basis.
Thisarticle on Wikipediaprovides a detailed explanation of available conventions.
