Excel: ODDLPRICE() and ODDLYIELD() Documentation Error

ID: Q90179

The information in this article applies to:

Microsoft Excel for Windows, version 4.0
Microsoft Excel for the Macintosh, version 4.0

SUMMARY

In the Function Reference manual for version 4.0 of Microsoft Excel, the documentation for the ODDLPRICE() and ODDLYIELD() functions contains errors in the argument lists and Remarks sections.

On pages 298 and 299 in "Microsoft Excel Function Reference," version 4.0, both of these functions show the following argument list:


   (settlement, maturity,last_coupon,rate,yld,redemption,frequency,basis)

The argument lists (for both functions) should read:


   (settlement, maturity,last_interest,rate,yld,redemption,frequency,
   basis)

That is, instead of last_coupon, both argument lists should have last_interest.

Note: If you choose Paste Function from the Formula menu, and have the Paste Arguments option selected, Excel pastes the correct argument names.

On the same pages, under the Remarks sections, the last bullet states,


   The following date condition must be satisfied; otherwise, ODDLPRICE
   (ODDLYIELD on page 299) returns the #NUM! error value:


   maturity > last_coupon > settlement

This condition should read:


   maturity > settlement > last_interest

Both the ordering of the arguments and the name of the last argument are incorrect (that is, last_coupon should be last_interest and should fall at the end not the middle of the condition equation).

REFERENCES

"Microsoft Excel Function Reference," version 4.0, pages 298-299

Additional query words: financial

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