This article describes the formula syntax and usage of the TBILLPRICE function in Microsoft Excel.

Description

Returns the price per $100 face value for a Treasury bill.

Syntax

TBILLPRICE(settlement, maturity, discount)

Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.

The TBILLPRICE function syntax has the following arguments:

Remarks

Example

Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

DataDescription
3/31/2008Settlement date
6/1/2008Maturity date
9.0%Percent discount rate
FormulaDescriptionResult
=TBILLPRICE(A2,A3,A4)The price for the Treasury bill, using the terms in A2, A3, and A4.$ 98.45

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