Interface

#include <codecogs/finance/banking/interestsecurity.h>

using namespace Finance::Banking;

double

interestSecurity (int sett,                  int mat,                  double investAm,                  double redemAm,                  Finance::Banking::YearBasis basis=yb_USA) Return the interest rate for a fully invested security. Excel: INTRATE

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Function Documentation

Returns the interest rate for a fully invested security. The function works using the following equation: where:

• rate is the interest rate for the security,
• redemption is the amount to be received at maturity,
• investment is the amount invested in the security,
• B is the number of days in the year, depending on the year

basis,

• and DIM is the number of days from settlement to maturity.

Example:

#include <iostream>
	
#include <codecogs/units/date/date.h>
#include <codecogs/units/date/dateymd.h>
#include <codecogs/finance/banking/interestsecurity.h>
	
int main(int argc, char *argv[])
{
  int settDate=Units::Date::date(1999, 2, 15);
  int maturityDate=Units::Date::date(1999, 5, 15);
	
  double intRate=Finance::Banking::interestSecurity(settDate, maturityDate, 1000000, 1014420,
Finance::Banking::yb_Act360);
 
  int y, m, d;
  Units::Date::dateYMD(settDate, y, m, d);
  printf("settlement=%i/%i/%i\n", y, m, d);
	
  Units::Date::dateYMD(maturityDate, y, m, d);
  printf("maturity=%i/%i/%i\n", y, m, d);
	
  printf("interest rate=%f", intRate);
  return 1;
}

Output:

settlement=1999/2/15
maturity=1999/5/15
interest rate=0.058328

Parameters:

sett	The settlement date of the security, expressed as a serial Julian date. This is the date after issue when the security is traded to the buyer.
mat	The maturity date of the security, expressed as a serial Julian date. The maturity date is the date when the security expires.
investAm	The amount invested in the security.
redemAm	The amount to be received at maturity.
basis	The day count basis to use. See YearBasis

Returns:

The interest rate for the security.

Note:

The day count basis is specified using the basis parameter. This basis can be any of the following: yb_USA, yb_EU, yb_Act, yb_Act360 or yb_Act365.

Authors:

James Warren (August 2005)

Source Code:

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