TBILLYIELD function

PRO BASIC

The TBILLYIELD function in Jspreadsheet Formulas Pro is a formula that allows you to compute the return or "yield" you'd get from a U.S. Treasury bill, given its price. This particular function is useful in financial analysis, particularly for investors who want to know their potential earnings from a Treasury bill. Simply put, you input the details of the Treasury bill into the function, and it calculates the yield or profit for you.

Documentation

Calculates the yield of a Treasury bill based on its price.

Syntax

TBILLYIELD(settlement, maturity, price)

Parameter	Description
`settlement`	The Treasury bill's settlement date.
`maturity`	The Treasury bill's maturity date.
`price`	The Treasury bill's price per $100 face value.

Behavior

The TBILLYIELD function calculates the yield on a Treasury bill. It expects the following parameters: settlement date, maturity date, and the price per $100 face value. Here's how it handles various scenarios:

Empty Cells: If any of the required parameters are missing, the function will return a #NUM! error.
Text: If any of the date parameters are in a text format that cannot be interpreted as a date, it will return a #VALUE! error. The price per $100 face value should be a number. If this parameter is text, a #VALUE! error will be returned.
Booleans: If Boolean values are used, Jspreadsheet interprets TRUE as 1 and FALSE as 0. Since these are invalid as settlement dates, maturity dates, or prices, the function will return an error.
Errors: If any of the parameters contain an error, the TBILLYIELD function will propagate that error.

Common Errors

Error	Description
`#NUM!`	occurs if the settlement date is greater than or equal to the maturity date, or if the price per $100 face value is not greater than 0.
`#VALUE!`	Occurs if any of the input parameters are not recognized as the expected data type.

Best practices

Always ensure the settlement date is earlier than the maturity date.

The price per $100 face value should always be greater than zero.

Input dates should be in a format recognized by the spreadsheet software to avoid #VALUE! errors.

Be aware that this function assumes a 360-day year for its calculations, which may not give exact results in all cases.

Usage

A few examples using the TBILLYIELD function.

TBILLYIELD("2022-01-01", "2022-06-30", 98.50)   → 0.0304 
TBILLYIELD("2022-03-01", "2022-09-01", 97.75)   → 0.0450 
TBILLYIELD("2022-01-01", "2022-12-31", 95.00)   → 0.0520  
TBILLYIELD("2008-03-31", "2008-06-01", 98.45)   → 0.0914

Interactive Spreadsheet Demo

<html>
<script src="https://jspreadsheet.com/v11/jspreadsheet.js"></script>
<script src="https://jsuites.net/v5/jsuites.js"></script>
<link rel="stylesheet" href="https://jsuites.net/v5/jsuites.css" type="text/css" />
<link rel="stylesheet" href="https://jspreadsheet.com/v11/jspreadsheet.css" type="text/css" />

<link rel="stylesheet" href="https://fonts.googleapis.com/css?family=Material+Icons" />
<script src="https://cdn.jsdelivr.net/npm/@jspreadsheet/formula-pro/dist/index.min.js"></script>

<div id="spreadsheet"></div>

<script>
// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

// Create a new spreadsheet
jspreadsheet(document.getElementById('spreadsheet'), {
  worksheets: [{
    data: [
    [
        "Settlement",
        "Maturity",
        "Price",
        "Yield"
    ],
    [
        "2024-01-15",
        "2024-04-15",
        97.25,
        "=TBILLYIELD(A2,B2,C2)"
    ],
    [
        "2024-02-01",
        "2024-08-01",
        95.8,
        "=TBILLYIELD(A3,B3,C3)"
    ],
    [
        "2024-03-10",
        "2024-06-10",
        98.15,
        "=TBILLYIELD(A4,B4,C4)"
    ]
]
  }]
});
</script>
</html>

import React, { useRef } from "react";
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/react";
import formula from "@jspreadsheet/formula-pro";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";

// Set license
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default function App() {
    // Spreadsheet array of worksheets
    const spreadsheet = useRef();

    // Worksheet data
    const data = [
    [
        "Settlement",
        "Maturity",
        "Price",
        "Yield"
    ],
    [
        "2024-01-15",
        "2024-04-15",
        97.25,
        "=TBILLYIELD(A2,B2,C2)"
    ],
    [
        "2024-02-01",
        "2024-08-01",
        95.8,
        "=TBILLYIELD(A3,B3,C3)"
    ],
    [
        "2024-03-10",
        "2024-06-10",
        98.15,
        "=TBILLYIELD(A4,B4,C4)"
    ]
];

    // Render component
    return (
        <Spreadsheet ref={spreadsheet}>
            <Worksheet data={data} />
        </Spreadsheet>
    );
}

<template>
    <Spreadsheet ref="spreadsheet">
        <Worksheet :data="data" />
    </Spreadsheet>
</template>

<script>
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/vue";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";
import formula from "@jspreadsheet/formula-pro";

// Set license
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default {
    components: {
        Spreadsheet,
        Worksheet,
    },
    data() {
        // Worksheet data
        const data = [
    [
        "Settlement",
        "Maturity",
        "Price",
        "Yield"
    ],
    [
        "2024-01-15",
        "2024-04-15",
        97.25,
        "=TBILLYIELD(A2,B2,C2)"
    ],
    [
        "2024-02-01",
        "2024-08-01",
        95.8,
        "=TBILLYIELD(A3,B3,C3)"
    ],
    [
        "2024-03-10",
        "2024-06-10",
        98.15,
        "=TBILLYIELD(A4,B4,C4)"
    ]
]

        return {
            data
        };
    }
}
</script>

import { Component, ViewChild, ElementRef } from "@angular/core";
import jspreadsheet from "jspreadsheet";
import * as formula from "@jspreadsheet/formula-pro";

// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

@Component({
    standalone: true,
    selector: "app-root",
    template: `<div #spreadsheet></div>`
})
export class AppComponent {
    @ViewChild("spreadsheet") spreadsheet: ElementRef;
    // Worksheets
    worksheets: jspreadsheet.worksheetInstance[];

    // Create a new data grid
    ngAfterViewInit() {
        // Create spreadsheet
        this.worksheets = jspreadsheet(this.spreadsheet.nativeElement, {
            worksheets: [{
                data: [
    [
        "Settlement",
        "Maturity",
        "Price",
        "Yield"
    ],
    [
        "2024-01-15",
        "2024-04-15",
        97.25,
        "=TBILLYIELD(A2,B2,C2)"
    ],
    [
        "2024-02-01",
        "2024-08-01",
        95.8,
        "=TBILLYIELD(A3,B3,C3)"
    ],
    [
        "2024-03-10",
        "2024-06-10",
        98.15,
        "=TBILLYIELD(A4,B4,C4)"
    ]
]
            }]
        });
    }
}

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