TBILLPRICE

Updated 2023-10-05 19:58:36.893000

Syntax

SELECT [westclintech].[wct].[TBILLPRICE] (
  <@Settlement, datetime,>
 ,<@Maturity, datetime,>
 ,<@Discount, float,>)

Description

Use the scalar function TBILLPRICE to calculate the price per $100 face value for a Treasury bill.

Arguments

@Settlement

the settlement date of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Discount

the security’s discount rate. @Discount is an expression of type float or of a type that can be implicitly converted to float.

@Maturity

the maturity date of the security. @Maturity is an expression that returns a datetime or smalldatetime value, or a character string in date format.

Return Type

float

Remarks

If @Discount < 0 TBILLPRICE returns an error.

If @Settlement > @Maturity TBILLPRICE returns an error.

If @Maturity is more than 1 year after @Settlement TBILLPRICE returns an error.

The following formula is used:

TBILLPRICE = 100*(1-(@discount*DSM/360))

WhereDSM is the number of days from @Settlement to @Maturity

Examples

SELECT wct.TBILLPRICE('2/1/2008', '6/1/2008', .048);

Here is the result set.

{"columns":[{"field":"column 1","headerClass":"ag-right-aligned-header","cellClass":"ag-right-aligned-cell"}],"rows":[{"column 1":"98.3866666666667"}]}