Excel RECEIVED Function
If you want to follow along with this tutorial, please download the example spreadsheet.
Description
The RECEIVED function returns the amount received at maturity for a fully invested security.
Syntax and arguments
Formula syntax
Arguments
|
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!.
4. If the argument settlement > maturity, 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:
=RECEIVED(DATE(2022,1,1),DATE(2028,3,20),100000,0.045)
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 RATE Function
TThe RATE returns the interest rate per period of an annuity.
-
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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