In fixed-income investing, Treasury bills (T-bills) are one of the most common short-term government securities. They are zero-coupon instruments, sold at a discount and redeemed at face value. While the discount rate is traditionally used to quote yields on T-bills, it's not directly comparable to bond-equivalent yields used for other instruments. That's where Excel's TBILLEQ function becomes essential.

In asset accounting, depreciation methods significantly impact the timing of expense recognition. While the straight-line method spreads depreciation evenly, some organizations prefer to front-load depreciation, especially for assets that lose value faster in earlier years. Enter Excel’s SYD function—a built-in tool for calculating accelerated depreciation using the Sum-of-Years' Digits (SYD) method

In business and accounting, tracking how assets lose value over time is essential for accurate financial reporting, tax planning, and capital budgeting. One of the simplest and most widely used methods of calculating depreciation is the Straight-Line Method. Excel provides the SLN function to automate this calculation, making it easy to determine the annual depreciation expense for assets over their useful life.

In financial planning, business analysis, or investment modeling, it’s often important to answer a key question: Microsoft Excel's RRI function helps answer this by calculating the equivalent compound interest rate required to turn one amount into another over a specified number of periods. Whether you're projecting asset growth or evaluating ROI over time, RRI provides a simple and elegant solution.

In the world of fixed-income investing, discount instruments like Treasury bills and commercial paper are sold below face value and mature at full par. To calculate the maturity amount for such investments, Excel offers the RECEIVED function—a simple yet powerful tool for financial professionals, investors, and analysts. This article explains how to use the RECEIVED function, where it applies, and how it supports financial modeling for short-term investments.

The Excel RATE function answers that question by calculating the periodic interest rate for loans, annuities, or investments based on known payment terms. It's especially useful when other values (payment, term, future/present value) are known, but the rate is unknown. This article explains how to use RATE effectively—from simple loans to more advanced financial models.

In traditional bond structures, interest is paid periodically (e.g., semiannually). However, some bonds—such as short-term notes, certificates of deposit, or zero-coupon instruments with accrued interest—pay interest only at maturity. Excel’s PRICEMAT function is designed specifically to calculate the price per $100 face value of such instruments. This article walks through the PRICEMAT function, detailing its structure, use cases, and financial modeling insights.

In fixed-income analysis, not all securities pay periodic interest. Instruments like Treasury bills, commercial paper, and zero-coupon bonds are issued at a discount and redeemed at full face value. To determine their price based on a given discount rate, Excel provides the PRICEDISC function. This article explores the PRICEDISC function from a professional finance perspective, including its purpose, structure, usage examples, and best practices.

In financial analysis, especially when dealing with fixed-income securities, accurately calculating the price of a bond is essential. Excel’s PRICE function is a built-in tool designed for this purpose—it computes the price per $100 face value of a bond, given expected yield, maturity, and coupon rate. This article provides a detailed overview of t

If you're working with loans, mortgages, or installment plans, Excel’s PPMT function helps break down your payments and show how much of each one goes toward the principal—not just the total payment. Let's explore how it works step by step, from the basics to more advanced, real-world uses. The PPMT function calculates the principal portion of a loan payment for a given period, based on constant interest and fixed payments.

PMT stands for "Payment". It calculates the fixed payment required to completely pay off a loan or investment over time, based on constant payments and a constant interest rate. PMT tells you how much you need to pay each period (month, year, etc.) to pay off a loan or achieve an investment goal.

ODDLYIELD stands for "Odd Last Period Yield". It calculates the annual yield of a bond when the last period before maturity is irregular — either shorter or longer than a normal coupon schedule. In simple words: If a bond’s last payment doesn't fit into a clean, regular schedule, ODDLYIELD helps you find the true return you will earn.

ODDLPRICE stands for "Odd Last Period Price".It calculates the price per $100 face value of a bond when the last period is irregular — that is, the final payment doesn’t align perfectly with a normal coupon schedule. In plain English:If a bond’s final interest payment happens earlier or later than expected, ODDLPRICE gives you the correct bond price.

ODDFYIELD stands for "Odd First Period Yield". It calculates the annual yield of a bond when the first period is shorter or longer than the standard schedule. In simple terms:If a bond doesn’t start on a "perfect" calendar (like paying every 6 months neatly), ODDFYIELD helps you figure out what your real return (yield) is. ✅ Regular bonds ➔ Use YIELD ✅ Bonds with odd first periods ➔ Use ODDFYIELD

ODDFPRICE stands for "Odd First Period Price". It calculates the price of a bond when the first period of the bond is shorter or longer than a regular period. In simple words: If a bond doesn’t start on a perfect schedule (like exactly every 6 months or 1 year), ODDFPRICE helps you figure out what it’s really worth today. ✅ Regular bonds ➔ Use PRICE ✅ Bonds with "weird" first periods ➔ Use ODDFPRICE Real-world bonds don't always fit neatly into textbook schedules!

NPER stands for Number of Periods. The NPER function in Excel calculates how many payment periods are needed to pay off a loan or reach an investment goal, based on constant payments and a constant interest rate. In simple words: NPER tells you "how long will it take" to finish paying or saving.

The NOMINAL function in Excel helps you calculate the nominal annual interest rate when you know the effective interest rate and the number of compounding periods per year. Effective Rate = Actual rate you earn (includes compounding) Nominal Rate = Stated rate (ignores compounding) In simple terms: NOMINAL gives you the “advertised” annual interest rate based on how many times the interest is compounded.

MIRR stands for Modified Internal Rate of Return. It improves the traditional IRR by assuming reinvestment at a realistic rate (not at the IRR itself) and separately considering borrowing costs. MIRR gives a more accurate picture of an investment’s profitability.

The ISPMT function in Excel calculates the interest paid during a specific period of an investment or loan with even principal payments (not even total payments like with IPMT). In simple words:ISPMT gives you the interest portion for a given period assuming you pay back the principal evenly across the loan term.

The IRR function in Excel calculates the Internal Rate of Return for a series of cash flows (payments and income).It is used heavily in finance and investment analysis to measure and compare the profitability of different projects or investments. In simple words:IRR tells you how profitable your investment is, shown as a percentage