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Financial
The Excel PRICE function returns the price per $100 face value of a bond that pays periodic interest. Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
Quick answer:
=PRICE(DATE(2026,1,1), DATE(2031,1,1), 5%, 4%, 100, 2) // price per $100 face
Syntax
=PRICE(settlement, maturity, rate, yld, redemption, frequency, [basis])
| Argument | Description | |
|---|---|---|
settlement | Required | The bond's settlement (purchase) date. |
maturity | Required | The maturity date. |
rate | Required | Annual coupon rate. |
yld | Required | Annual yield. |
redemption | Required | Redemption value per $100 face. |
frequency | Required | Coupon payments per year (1, 2, or 4). |
basis | Optional | Day-count basis. |
How to use it
PRICE returns the price per $100 face value of a bond that pays periodic interest. Settlement and maturity are dates wrap them in DATE() so Excel reads them correctly..
=PRICE(DATE(2026,1,1), DATE(2031,1,1), 5%, 4%, 100, 2) // price per $100 face
Try it: interactive demo
Live demo
This is the formula pattern PRICE uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
Download the free PRICE practice workbook
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Frequently asked questions
How do I enter the dates?
Wrap settlement and maturity in DATE(year,month,day) so Excel reads real dates, not text.
Which Excel versions support it?
All modern versions.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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