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Coupon Periods Remaining Between Settlement Date and Maturity Date
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COUPNUM
The number of coupon periods between the settlement date and the maturity date, rounded up to
the next whole coupon period, can be calculated using Excel’s COUPNUM function. See
the table below for a detailed list of the exercises and problems in the text that can be solved
using this function.
This function is included in the Analysis ToolPak.
Syntax
=COUPNUM(settlement,maturity,frequency,basis)
Settlement – the date after the issue date when the security is traded to the
buyer
Maturity – maturity date of the security
Frequency  number of coupon payments per year
1 = annual
2 = semiannual
3 = quarterly
Basis – day count basis of the security. Defaults to 0 if omitted.
0 = 30/360 (US NASD)
1 = actual/actual
2 = actual/360
3 = actual/365
4 = European 30/365
General Example
The following general example shows how the COUPNUM function can be used. Notice that the
COUPNUM function appears in the formula bar.
1
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View Full DocumentUsing the COUPNUM Function in a Spreadsheet
To calculate the number of remaining compounding periods from the settlement date to the
maturity date rounded up to the next whole coupon period, create a spreadsheet by following
Steps 1 to 7. Or, to use the COUPNUM function right away, open the COUPNUM worksheet in
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 Fall '05
 TonyCirusolo
 Math

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