The Excel MDURATION function returns the modified Macaulay duration — duration adjusted for yield, directly estimating price change per 1% yield move. Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
Syntax
| Argument | Description | |
|---|---|---|
settlement | Required | Settlement date. |
maturity | Required | Maturity date. |
coupon | Required | Annual coupon rate. |
yld | Required | Annual yield. |
frequency | Required | Coupons per year. |
basis | Optional | Day-count basis. |
How to use it
MDURATION returns the modified Macaulay duration — duration adjusted for yield, directly estimating price change per 1% yield move. Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
Try it: interactive demo
This is the formula pattern MDURATION uses — copy it into Excel with your own numbers.
Practice workbook
Frequently asked questions
How do I enter the dates?
Which Excel versions support it?
Why might it return #NUM! or #VALUE!?
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