Returns the amount received at maturity for a fully invested security.
If this function is not available, run the Setup program to install the Analysis ToolPak. After you install the Analysis ToolPak, you must enable it by using the Add-Ins command on the Tools menu.
Syntax
RECEIVED(settlement,maturity,investment,discount,basis)
Settlement is the security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
Maturity is the security's maturity date. The maturity date is the date when the security expires.
Investment is the amount invested in the security.
Discount is the security's discount rate.
Basis is the type of day count basis to use.
Basis |
Day count basis |
0 or omitted |
US (NASD) 30/360 |
1 |
Actual/actual |
2 |
Actual/360 |
3 |
Actual/365 |
4 |
European 30/360 |
Remarks
Where:
B = number of days in a year, depending on the year basis.
DIM = number of days from issue to maturity.
Example
A bond has the following terms:
February 15, 1993, settlement (issue) date
May 15, 1993, maturity date
1,000,000 investment
5.75 percent discount rate
Actual/360 basis
The total amount to be received at maturity (in the 1900 date system) is:
RECEIVED("2/15/93","5/15/93",1000000,0.0575,2)
equals 1,014,420.266