getMessage(); } if ($discount <= 0) { return Functions::NAN(); } $daysBetweenSettlementAndMaturity = $maturity - $settlement; $daysPerYear = Helpers::daysPerYear( Functions::scalar(DateTimeExcel\DateParts::year($maturity)), FinancialConstants::BASIS_DAYS_PER_YEAR_ACTUAL ); if ($daysBetweenSettlementAndMaturity > $daysPerYear || $daysBetweenSettlementAndMaturity < 0) { return Functions::NAN(); } return (365 * $discount) / (360 - $discount * $daysBetweenSettlementAndMaturity); } /** * TBILLPRICE. * * Returns the price per $100 face value for a Treasury bill. * * @param mixed $settlement The Treasury bill's settlement date. * The Treasury bill's settlement date is the date after the issue date * when the Treasury bill is traded to the buyer. * @param mixed $maturity The Treasury bill's maturity date. * The maturity date is the date when the Treasury bill expires. * @param mixed $discount The Treasury bill's discount rate * * @return float|string Result, or a string containing an error */ public static function price($settlement, $maturity, $discount) { $settlement = Functions::flattenSingleValue($settlement); $maturity = Functions::flattenSingleValue($maturity); $discount = Functions::flattenSingleValue($discount); try { $settlement = FinancialValidations::validateSettlementDate($settlement); $maturity = FinancialValidations::validateMaturityDate($maturity); $discount = FinancialValidations::validateFloat($discount); } catch (Exception $e) { return $e->getMessage(); } if ($discount <= 0) { return Functions::NAN(); } $daysBetweenSettlementAndMaturity = $maturity - $settlement; $daysPerYear = Helpers::daysPerYear( Functions::scalar(DateTimeExcel\DateParts::year($maturity)), FinancialConstants::BASIS_DAYS_PER_YEAR_ACTUAL ); if ($daysBetweenSettlementAndMaturity > $daysPerYear || $daysBetweenSettlementAndMaturity < 0) { return Functions::NAN(); } $price = 100 * (1 - (($discount * $daysBetweenSettlementAndMaturity) / 360)); if ($price < 0.0) { return Functions::NAN(); } return $price; } /** * TBILLYIELD. * * Returns the yield for a Treasury bill. * * @param mixed $settlement The Treasury bill's settlement date. * The Treasury bill's settlement date is the date after the issue date when * the Treasury bill is traded to the buyer. * @param mixed $maturity The Treasury bill's maturity date. * The maturity date is the date when the Treasury bill expires. * @param mixed $price The Treasury bill's price per $100 face value * * @return float|string */ public static function yield($settlement, $maturity, $price) { $settlement = Functions::flattenSingleValue($settlement); $maturity = Functions::flattenSingleValue($maturity); $price = Functions::flattenSingleValue($price); try { $settlement = FinancialValidations::validateSettlementDate($settlement); $maturity = FinancialValidations::validateMaturityDate($maturity); $price = FinancialValidations::validatePrice($price); } catch (Exception $e) { return $e->getMessage(); } $daysBetweenSettlementAndMaturity = $maturity - $settlement; $daysPerYear = Helpers::daysPerYear( Functions::scalar(DateTimeExcel\DateParts::year($maturity)), FinancialConstants::BASIS_DAYS_PER_YEAR_ACTUAL ); if ($daysBetweenSettlementAndMaturity > $daysPerYear || $daysBetweenSettlementAndMaturity < 0) { return Functions::NAN(); } return ((100 - $price) / $price) * (360 / $daysBetweenSettlementAndMaturity); } }