The ODDLYIELD function returns the yield of a security with a short or long last period as a percentage.
The bond matures on 15-Jun-2018, and pays a coupon rate of 5%.
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, theDATE functionis the best option.
The ODDLYIELD function allows 5 options (0-4) and defaults to zero, which specifies US 30/360basis.
Thisarticle on Wikipediaprovides a detailed explanation of available conventions.
