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PRICE Function validation

  1. #1
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    Excel 2007
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    PRICE Function validation

    [SOLVED] via previous thread "Formula for bond price". Slight "bug" in PRICE function still exists in Excel 2007.

    Good day!

    I am trying to validate the PRICE function using the longhand formula provided in Excel Help.
    I am able to get the exact price for my sample bonds, except for a particular bond with the following details:

    Settlement Date 03/27/2013
    Maturity 06/29/2013
    Coupon Rate 9.625%
    Yield 0.350%
    Redemption 100
    Frequency 2
    Basis 30-day rule

    Using the PRICE function, result is 102.366057042189

    Using the long-hand formula, with below details: my result is 102.366097039549 (diff of -0.00004)

    DSC 92
    N 1
    A 88
    E 180

    Is there any reported bug on the PRICE function? Or were the values I used for variables DSC, N, A and E incorrect?
    I get the exact result (exact zero difference) for all other bonds except this one.

    Appreciate immediate help. Thank you!
    Last edited by BCAN; 07-02-2013 at 11:48 PM. Reason: Status Update

  2. #2
    Forum Expert dilipandey's Avatar
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    Re: PRICE Function validation

    Hi BCAN,

    Welcome to the forum.
    Your first line of the posts hints that this is solved, and if so, please mark this thread as [SOLVED] and post the link of solution thread. Thanks.

    Regards,
    DILIPandey
    <click on below * if this helps>
    DILIPandey, Excel rMVP
    +919810929744 (India), +971528225509 (Dubai), [email protected]

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