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# bill Price

Calculate the price per 100 units face value of a treasury bill. Excel: TBILLPRICE
Controller: CodeCogs Contents  ## Dependents C++
Excel

## BillPrice

 doublebillPrice( int sett int mat double rate )
Return the price per 100 (currency units) face value of a treasury bill. This function is equivalent to the Microsoft Excel function TBILLPRICE.

The following equation is used:

Where: price is the price per 100 face value of the treasury, rate is the discount rate of the treasury bill, DSM is the number of days from settlement to maturity.

## References:

Microsoft Excel help file

### Example 1

#include <stdio.h>
#include <codecogs/units/date/date.h>
#include <codecogs/finance/banking/billprice.h>

int main(int argc, char *argv[])
{
int settDate=Units::Date::date(1999, 3, 31);
int maturityDate=Units::Date::date(1999, 6, 1);
double result=Finance::Banking::billPrice(settDate, maturityDate, 0.09);
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("treasury bill price=%f\n\n", result);

settDate=Units::Date::date(2005, 8, 9);
maturityDate=Units::Date::date(2005, 12, 30);
result=Finance::Banking::billPrice(settDate, maturityDate, 0.11);
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("treasury bill price=%f\n", result);
return 0;
}
Output:
settlement=1999/3/31
maturity=1999/6/1
treasury bill price=98.45

settlement=2005/8/9
maturity=2005/12/30
treasury bill price=95.661111

This is the date after issue when the treasury bill is traded to the buyer.

Julian date. This is the date when the treasury bill expires.

### Note

maturity dates more than 1 yeaer after the settlement date cause an error message to be issued.

### Parameters

 sett The settlement date, expressed as a serial Julian date. mat The maturity date of the settlement, expressed as a serial rate The discount rate of the treasury bill.

### Returns

The previous coupon date of the security.

### Authors

James Warren (August 2005)
##### Source Code

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