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

Using this data

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

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

returns

FutureVal =
            101.44

References

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

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