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Google Sheets

The TBILLPRICE function in Google Sheets takes the current Treasury bill (T-bill) rate and calculates the price of a security that pays out that rate over the life of the security.

The syntax for the function is TBILLPRICE(rate, nper, pmt, pv, type).

rate is the annual interest rate of the security.

nper is the number of payments over the life of the security.

pmt is the amount of each payment.

pv is the present value of the security.

type is 0 for a regular security, 1 for an annual-payment security, and 2 for a semi-annual payment security.

The function can be used in a financial model to calculate the future value of a security that pays out a fixed rate of interest.

The syntax of TBILLPRICE in Google Sheets is as follows:

=TBILLPRICE(settlement_date, maturity_date, yield, face_amount)

settlement_date - The date on which the security is traded.

maturity_date - The date on which the security matures.

yield - The annual interest rate of the security.

face_amount - The face value of the security.

The TBILLPRICE function in Google Sheets calculates the price of a Treasury bill. To use it, you'll need to know the maturity date, the issue date, and the face value of the Treasury bill. The function will return the price of the Treasury bill as a decimal. For example, if you wanted to know how much you would pay for a Treasury bill with a maturity date of August 1, 2020 and an issue date of July 31, 2020, you would use the following formula: =TBILLPRICE(8/1/2020, 7/31/2020, 100000)

There are a few instances when you should not use TBILLPRICE in Google Sheets. The function is not compatible with Google Sheets' freeze pane feature, so if you have a sheet with multiple tabs that you want to keep frozen while you scroll through the rest of the sheet, TBILLPRICE will not work. Additionally, TBILLPRICE only calculates accrued interest for a given day, so it will not work if you are trying to calculate the interest for a longer period of time.

There are many formulae to use in Google Sheets. A few similar formulae to TBILLPRICE would be TBILLYIELD, BONDPRICE, and BONDYIELD. These formulae can be used to calculate the yield of a Treasury bill, price of a bond, and yield of a bond, respectively. All of these formulae are used to calculate different aspects of a bond's yield.

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