Price Function and Frequency

[forda]

I am using the price function to amortize the book value of a bond that receives monthly interest payments. The problem is that the formula does not calculate monthly periods, only annual, semi-annual, and quarterly. Does anyone have a suggestion?

[shg]

Frequency is the number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.

For monthly, frequency = 12.

[forda]

Unfortunately that isn't an option. the only numbers that work at all in the function are 1, 2 and 4.

[shg]

Aha.

I can code the function that's shown in Help to accommodate monthly payments -- but would it be valid? The coupon payment dates would be irregular in interval - might that be why it's not an option?

[forda]

do you know of another function that can do this? or some 'trick' to making the price function do it? I don't need an exact figure...just something closer than the quarterly frequency will give me.

[shg]

I don't, sorry ...