# tbillprice

Price Treasury bill

## Syntax

``Price = tbillprice(Rate,Settle,Maturity)``
``Price = tbillprice(___,Type)``

## Description

example

````Price = tbillprice(Rate,Settle,Maturity)` computes the price of a Treasury bill given a yield or discount rate.```

example

````Price = tbillprice(___,Type)` adds an optional argument for `Type`. ```

## Examples

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Given a Treasury bill with the following characteristics, compute the price of the Treasury bill using the bond-equivalent yield (`Type` = `2`) as input.

```Rate = 0.045; Settle = '01-Oct-02'; Maturity = '31-Mar-03'; Type = 2; Price = tbillprice(Rate, Settle, Maturity, Type)```
```Price = 97.8172 ```

Use `tbillprice` to price a portfolio of Treasury bills.

```Rate = [0.045; 0.046]; Settle = {'02-Jan-02'; '01-Mar-02'}; Maturity = {'30-June-02'; '30-June-02'}; Type = [2 3]; Price = tbillprice(Rate, Settle, Maturity, Type)```
```Price = 2×1 97.8408 98.4539 ```

Use `tbillprice` to price a portfolio of Treasury bills using `datetime` input.

```Rate = [0.045; 0.046]; Type = [2 3]; Settle = [datetime(2002,1,2);datetime(2002,3,1)]; Maturity = [datetime(2002,6,30);datetime(2002,6,30)]; Price = tbillprice(Rate, Settle, Maturity, Type)```
```Price = 2×1 97.8408 98.4539 ```

## Input Arguments

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Bond-equivalent yield, money-market yield, or discount rate (defined by the input `Type`), specified as a scalar of a `NTBILLS`-by-`1` vector of decimal values.

Data Types: `double`

Settlement date of the Treasury bill, specified as a scalar or a `NTBILLS`-by-`1` vector using a datetime array, string array, or date character vectors.

To support existing code, `tbillprice` also accepts serial date numbers as inputs, but they are not recommended.

Data Types: `char` | `string` | `datetime`

Maturity date of the Treasury bill, specified as a scalar or a `NTBILLS`-by-`1` vector using a datetime array, string array, or date character vectors.

To support existing code, `tbillprice` also accepts serial date numbers as inputs, but they are not recommended.

Data Types: `char` | `string` | `datetime`

Rate type (determines how to interpret values entered in `Rate`), specified as a numeric value of `1`,`2`, or `3` using a scalar or a `NTBILLS`-by-`1` vector.

Note

The bond-equivalent yield basis is actual/365. The money-market yield basis is actual/360. The discount rate basis is actual/360.

Data Types: `double`

## Output Arguments

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Treasury bill prices for every \$100 face, returned as a `NTBILLS`-by-`1` vector.

 SIA Fixed Income Securities Formulas for Price, Yield, and Accrued Interest. Volume 1, 3rd edition, pp. 44–45.

 Krgin, D. Handbook of Global Fixed Income Calculations. Wiley, 2002.

 Stigum, M., Robinson, F. Money Market and Bond Calculation. McGraw-Hill, 1996.