fvdisc

Future value of discounted security

Syntax

FutureVal = fvdisc(Settle, Maturity, Price, Discount, Basis)

Arguments

Settle

Settlement date. Enter as serial date number or date string. Settle must be earlier than Maturity.

Maturity

Maturity date. Enter as serial date number or date string.

Price

Price (present value) of the security.

Discount

Bank discount rate of the security. Enter as decimal fraction.

Basis

(Optional) Day-count basis of the instrument. A vector of integers.

  • 0 = actual/actual (default)

  • 1 = 30/360 (SIA)

  • 2 = actual/360

  • 3 = actual/365

  • 4 = 30/360 (PSA)

  • 5 = 30/360 (ISDA)

  • 6 = 30/360 (European)

  • 7 = actual/365 (Japanese)

  • 8 = actual/actual (ISMA)

  • 9 = actual/360 (ISMA)

  • 10 = actual/365 (ISMA)

  • 11 = 30/360E (ISMA)

  • 12 = actual/365 (ISDA)

  • 13 = BUS/252

For more information, see basis.

Description

FutureVal = fvdisc(Settle, Maturity, Price, Discount, Basis) finds the amount received at maturity for a fully vested security.

Examples

expand all

Find the Amount Received at Maturity for a Fully-Vested Security

This example shows how to find the amount received at maturity for a fully-vested security, using the following data.

Settle = '02/15/2001';
Maturity = '05/15/2001';
Price = 100;
Discount = 0.0575;
Basis = 2;

FutureVal = fvdisc(Settle, Maturity, Price, Discount, Basis)
FutureVal =

  101.4420

References

Mayle, Standard Securities Calculation Methods, Volumes I-II, 3rd edition.

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