Excel Functions

Excel DISC Function

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The Excel DISC Function stands for a discount rate. In MS-Excel this function DISC is categorized under financial function. It helps to know the discount rate when we know the other details about the bond.

Purpose of Excel DISC Function

To get a discount rate for securities.

Return value

DISC function will return the interest rate (or discount rate) for a security held to maturity.

Syntax

= DISC(settlement, maturity, pr, redemption, [basis])

Arguments

ArgumentsDescriptionRemarks
settlementThe settlement date of the security. Mandatory
maturityThe maturity date of the security Mandatory
prThe present value.Mandatory
redemptionThe security’s redemption value per $100 face value.Mandatory
[basis]The type of day counting to use.Optional
BASISDAY COUNT BASIS
0US 30/360 (default)
1Actual/Actual
2Actual/360
3Actual/365
4European 30/360

Usage note

  • If settlement or maturity is not a valid serial date number, DISC returns the #VALUE! error value.
  • If pr ≤ 0 or if redemption ≤ 0, DISC returns the #NUM! error value.
  • If basis < 0 or if basis > 4, DISC returns the #NUM! error value.
  • If settlement ≥ maturity, DISC returns the #NUM! error value.
  • Settlement, maturity, and basis are truncated to integers.
  • Dates are serial numbers in Excel.

Availability

Since 2007 for Windows.
Since 2011 for Mac.

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