CFI-Excel-eBook

The Corporate Finance Institute Excel
Things to remember about the DURATION Function:
1. #NUM! error – Occurs if either:
1. The supplied settlement date is ≥ maturity date; or
2. Invalid numbers are supplied for the coupon, yld, frequency or [basis]
arguments, i.e. if either: coupon < 0; yld < 0; frequency is not equal to 1,
2 or 4; or [basis] is supplied and is not equal to 0, 1, 2, 3 or 4).
3. #VALUE! error – Occurs if either:
1. Any of the given arguments is non-numeric; or
2. One or both of the given settlement or maturity dates are not valid
Excel dates.
4. Settlement, maturity, frequency, and basis are truncated to integers.
5. In MS Excel, dates are stored as sequential serial numbers so they can be
used in calculations. By default, January 1, 1900 is serial number 1, and
January 18, 2018 is serial number 43118, because it is 43,118 days after
January 1, 1900.
corporatefinanceinstitute.com
63