UltraCalcFunctionIntRate Class

Calculates the interest rate yielded by a security investment redeemable at a future date, such as a zero coupon bond.

Syntax

Visual Basic

'Declaration
 
Public Class UltraCalcFunctionIntRate 
   Inherits BuiltInFunctionBase

C#

public class UltraCalcFunctionIntRate : BuiltInFunctionBase 

Remarks

INTRATE(settlementDate, maturityDate, amount, redemptionValue, basis)

SettlementDate is the date on which a security purchase is settled with the buyer taking possession of the security. Market conventions for settlement of trades vary by security and exchange. The settlement date may be substantially later than a security's issue date when it is traded on the secondary market.

MaturityDate is the date when the security can be redeemed. It ceases to accrue any further value after this date. The maturity date must be later than the settlementDate or an error value is returned.

Amount is the purchase price of the security. For positive interest, this amount will be smaller than the redemptionValue because it discounts interest that will be accrued over the time period the security is held.

RedemptionValue is the price a security holder may redeem their security for at the maturityDate. In some cases, this may be called the face value of the security.

Basis describes what accounting convention to use when counting days per calendar year, and days on which interest can accrue. If omitted, a basis consistent with United States National Association of Security Dealers (NASD) of 30/360 will be employed.

Basis	Day counting method
0	30/360 (US NASD)
1	Actual/actual
2	Actual/360
3	Actual/365
4	30/360 (European)

Date values should be passed to this function using either the DATE() function or UltraCalcValue objects containing .NET DateTime values. Date values represented as text may not be interpreted as you had intended.