RECEIVED

The RECEIVED function returns the maturity value for a security that pays interest only at maturity.

RECEIVED(settle, maturity, invest-amount, annual-rate, days-basis)

settle: A date/time value or date string representing the trade settlement date, usually one or more days after the trade date.

maturity: A date/time value or date string representing the date when the security matures. maturity must be after the date specified for settle.

invest-amount: A number value representing the amount invested in the security. invest-amount is often formatted as currency and must be greater than or equal to 0.

annual-rate: A number value representing the annual coupon rate or stated annual interest rate of the security used to determine periodic interest payments. annual-rate must be greater than 0, and is entered as a decimal (for example, 0.08) or with a per cent sign (for example, 8%).

days-basis: An optional modal value specifying the number of days per month and days per year (days-basis convention) used in the calculations.

30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD method for dates falling on the 31st of a month.

actual/actual (1): Actual days in each month, actual days in each year.

actual/360 (2): Actual days in each month, 360 days in a year.

actual/365 (3): Actual days in each month, 365 days in a year.

30E/360 (4): 30 days in a month, 360 days in a year, using the European method for dates falling on the 31st of a month.

Notes

The currency shown in this function result depends on your Language and Region settings (in System Preferences in macOS and in Settings in iOS and iPadOS), or on your Time Zone and Region settings in iCloud Settings.

Example
Suppose you own a hypothetical security. The security, which pays interest only at maturity, was originally issued at $1,000 (invest-amount) on 14 December 2008 (settle), matures on 30 June 2015 (maturity), and has a nominal interest or discount rate (annual-rate) of 6.5%, calculated on a 30/360 days basis. =RECEIVED("12/14/2008", "06/30/2015", 1000, 0.065, 0) returns approximately 1,740.30745431693, the amount to be received at maturity, including both principal and interest.

Example

Suppose you own a hypothetical security. The security, which pays interest only at maturity, was originally issued at $1,000 (invest-amount) on 14 December 2008 (settle), matures on 30 June 2015 (maturity), and has a nominal interest or discount rate (annual-rate) of 6.5%, calculated on a 30/360 days basis.

=RECEIVED("12/14/2008", "06/30/2015", 1000, 0.065, 0) returns approximately 1,740.30745431693, the amount to be received at maturity, including both principal and interest.

See alsoINTRATE

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RECEIVED

Notes