The RECEIVED function calculates the amount received at maturity for a fully invested security.
|settlement||Settlement date of the security, i.e. the date that the coupon is purchased|
|maturity||Maturity date of the security, i.e. the date that the coupon expires|
|investment||Initial amount invested in the security|
|discount||Security’s discount rate|
|[basis]||Optional. Defines the day count basis to be used in the calculation
The financial day count basis rules are explained further on the Wikipedia Day Count Convention page
Note: The settlement and maturity dates should be input as either:
- References to cells containing dates, or
- Dates returned from formulas
If you attempt to input these date arguments as text, Excel may misinterpret them, due to different date systems, or date interpretation settings.
Warning: Although you can input the date arguments as date serial numbers, this is not recommended as date serial numbering does vary across different computer systems.
|9||=RECEIVED(A2,A3,A4,A5,A6)||$129,554.66||The total amount to be received at maturity, for the bond with the terms in A2:A6|
|10||=RECEIVED(DATE(2010,4,1),DATE(2015,3,31),A4,A5)||$129,032.26||The total amount to be received at maturity, for the bond with the terms in A2:A5, [basis] is omitted – defaults to 0, DATE function used to enter dates|
Common Function Error(s)
|Problem||What went wrong|
|#VALUE!||Occurs if either of the supplied settlement or maturity arguments are not valid dates or any of the other arguments are not recognized as numeric values|
|#NUM!||Occurs if either:
|#NAME?||Occurs when Analysis ToolPak add-in is not enabled|
RECEIVED is calculated as:
- B = number of days in year, depending on [basis]
- DIM = number of days from issue to maturity