### Description

The RECEIVED function returns the amount received at maturity for a fully invested security.

### Syntax and arguments

Formula syntax

Arguments

• Settlement: Required, the settlement date of the security. Or the date that the security is traded to the buyer after the issue date.
• Maturity: Required, the maturity date or expiration date of the security.
• Investment: Required, the amount invested in the security.
• Discount: Required, the discount rate of the security.
• Basis: Optional, the type of day count basis to use in the function. It has 5 types, default, basis is omitted:
•  Basis Day Count 0 (zero) or omitted US (NASD) 30/360 2 Actual/360 3 Actual/365 4 European 30/360

Return Value

The RECEIVED function returns a numeric value.

Errors

1. If the argument settlement and maturity are not the valid dates, such as are the non-numeric value, the dates that are earlier than 1/1/1900, the function will return to an error value #VALUE!.

2. If the argument basis is out of range (0-4), the function will return to an error value #NUM!.

3. If the argument investment <= 0, or discount <= 0, RECEIVED function will return to an error value #NUM!.

Remarks

1. In Excel, dates are stored as serial numbers. Default, Excel is the 1/1/1900 system which means that 1/1/1900 is the first valid day in Excel and stored as number 1 in Excel. So 1/1/2021 is stored as number 44197.

2. All arguments are truncated to integers, if the arguments including time, the time will be ignored.

3. You should better use date with a cell reference or you can directly use DATE function embedded in the RECEIVED function as this:

4. RECEIVED function is calculated as follow:

Version

Excel 2003 or later

### Usage and Examples

Example1: basic usage

For instance, in table range B3:C7 that list information about a security, now to calculate the amount received at maturity of this security, please use formula as this:

=RECEIVED(C3,C4,C5,C6) //here the basis is omitted, the function takes the day count basis type as US (NASD) 30/360

Press Enter key, the received value will be gotten.

#### Relative Functions:

• Excel PRICEMAT Function
The PRICEMAT function returns the price per \$100 face value of a security that pays interests at maturity.

• Excel PV Function
The PV function returns the present value of a loan or an investment based on a constant interest rate.

• Excel AMORDEGRC Function
The AMORDEGRC function returns the linear depreciation of an asset for each accounting period by applying a depreciation coefficient based on the lifetime of the assets.

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