Hm ti chnh :

ACCRINT
Tnh li gp cho mt chng khon tr li theo nh k. C php: = ACCRINT(issue, first_interest, settlement, rate, par, frequency, basis, calc_method) Issue : Ngy pht hnh chng khon. First_interest : Ngy tnh li u tin ca chng khon. Settlement : Ngy ti hn ca chng khon. Ngy ny phi l mt ngy sau ngy pht hnh chng khon khi chng khon c giao dch vi ngi mua. Rate : Li sut hng nm ca chng khon. Par : Gi tr danh ngha ca chng khon. Nu b qua, ACCRINT() s dng $1,000 Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Calc_method : L mt gi tr logic ch cch tnh s li gp khi ngy kt ton chng khon (settlement) xy ra sau ngy tnh li u tin ca chng khon (fisrt_interest). Nu l 1 (TRUE): s li gp s c tnh t ngy pht hnh chng khon; nu l 0 (FALSE): s li gp s ch tnh t ngy tnh li u tin ca chng khon. Nu b qua, mc nh calc_method l 1. Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. issue, first_interest, settlement, frequency v basis s c ct b phn l nu chng khng phi l s nguyn Nu issue, first_interest v settlement khng l nhng ngy hp l, ACCRINT() s tr v gi tr li #VALUE! Nu rate 0 hay par 0, ACCRINT() s tr v gi tr li #NUM! Nu frequency khng phi l cc con s 1, 2, hoc 4, ACCRINT() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, ACCRINT() s tr v gi tr li #NUM! Nu issue > settlement, ACCRINT() s tr v gi tr li #NUM! Hm ACCRINT() s tnh ton theo cng thc sau y:

Vi: Ai : S ngy tch ly trong k li th i vi k l (1, 3, 5...) NC : S k tnh li thuc k l. Nu NC c phn l thp phn, NC s c lm trn ti s nguyn k tip NLi : S ngy bnh thng trong k tnh li th i vi k l V d:

Tnh li gp ca mt tri phiu kho bc c mnh gi $1,000,000, pht hnh ngy 1/3/2008, ngy ti hn l 1/5/2009, ngy tnh li u tin l 31/8/2008 (tnh li 6 thng mt ln) vi li sut hng nm l 10%, c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy ? = ACCRINT(DATE(2008,3,1), DATE(2008,8,31), DATE(2009,5,1), 10%, 1000000, 2, 0, TRUE) = $116,944.44 = ACCRINT(DATE(2008,3,1), DATE(2008,8,31), DATE(2009,5,1), 10%, 1000000, 2, 0, FALSE) = $116,667.67 Cng thc trn tnh tng li gp t ngy pht hnh tri phiu, cn cng thc di ch tnh li gp t ngy u tin bt u tnh li (31/8/2008)

Accrintm
Tnh li gp cho mt chng khon tr li theo k hn (tr li mt ln vo ngy o hn) C php: = ACCRINTM(issue, settlement, rate, par, basis) Issue : Ngy pht hnh chng khon. Settlement : Ngy o hn chng khon. Rate : Li sut hng nm ca chng khon. Par : Gi tr danh ngha ca chng khon. Nu b qua, ACCRINT() s dng $1,000 Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. issue, settlement, v basis s c ct b phn l nu chng khng phi l s nguyn Nu issue v settlement khng l nhng ngy hp l, ACCRINTM() s tr v gi tr li #VALUE! Nu rate 0 hay par 0, ACCRINTM() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, ACCRINTM() s tr v gi tr li #NUM! Nu issue > settlement, ACCRINTM() s tr v gi tr li #NUM!

Hm ACCRINTM() s tnh ton theo cng thc sau y:

Vi: A : S ngy tch ly tnh theo thng. i vi li tc theo cc khon o hn, s ngy c tnh t ngy pht hnh ti ngy o hn. D : S ngy trong mt nm (ph thuc vo basis) V d:

Tnh li gp ca mt tri phiu kho bc c mnh gi $1,000,000, pht hnh ngy 1/3/2008, ngy ti hn l 1/5/2009, li sut hng nm l 10%, vi c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy ?

= ACCRINTM(DATE(2008,3,1), DATE(2009,5,1), 10%, 1000000) = $116,667.67

AMORDEGRC
Tnh khu hao ti sn trong mi k k ton. Hm ny c dng s dng trong cc h thng k ton kiu Php: Nu mt ti sn c mua vo gia k k ton, s khu hao chia theo t l s c ghi vo ti khon. Hm ny tng t nh hm AMORLINC(), ch khc l h s khu hao p dng trong php tnh ty theo thi hn s dng ca ti sn. C php: = AMORDEGRC(cost, date_purchased, first_period, salvage, period, rate, basis) Cost : Gi tr ca ti sn (khi mua vo) Date_purchased : Ngy mua ti sn. First_period : Ngy cui cng ca k k ton th nht Salvage : Gi tr thu hi c ca ti sn vo cui hn s dng. Period : K k ton mun tnh khu hao. Rate : T l khu hao ca ti sn. Ty thuc vo hn s dng ca ti sn : = 15% : T 3 n 4 nm = 20% : T 5 n 6 nm = 25% : T 6 nm tr ln Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy

= 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Hm ny s tnh khu hao cho n k cui cng ca thi hn s dng ca ti sn, hoc cho ti khi gi tr tch ly khu hao ln hn gi tr khi mua vo ca ti sn tr i gi tr cn li ca ti sn khi ht hn s dng. T l khu hao s t ti 50% vo k p cht v s t ti 100% vo k cht. Nu thi hn (s nm) s dng ca ti sn nm gia 0 v 1, 1 v 2, 2 v 3, hoc 4 v 5, hm s tr v gi tr li #NUM!

V d:

Tnh s tin khu hao trong k u tin ca mt ti sn c gi tr khi mua vo ngy 19/8/2008 l $2,400, bit rng ngy cui cng ca k k ton th nht l 31/12/2008, gi tr thu hi c ca sn phm khi ht hn s dng 3 nm l $300, s dng cch tnh ngy thng theo thc t ?

= AMORDEGRC(2400, DATE(2008,8,19), DATE(2008,12,31), 300, 1, 15%, 1) = $776

AMORDEGRC
Tnh khu hao ti sn trong mi k k ton. Hm ny c dng s dng trong cc h thng k ton kiu Php: Nu mt ti sn c mua vo gia k k ton, s khu hao chia theo t l s c ghi vo ti khon. Hm ny tng t nh hm AMORDEGRC(), ch khc l h s khu hao p dng trong php tnh khng ph thuc vo thi hn s dng ca ti sn. C php: = AMORDEGRC(cost, date_purchased, first_period, salvage, period, rate, basis) Cost : Gi tr ca ti sn (khi mua vo) Date_purchased : Ngy mua ti sn. First_period : Ngy cui cng ca k k ton th nht Salvage : Gi tr thu hi c ca ti sn vo cui hn s dng. Period : K k ton mun tnh khu hao. Rate : T l khu hao ca ti sn. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy

= 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng.

V d:

Tnh s tin khu hao trong k u tin ca mt ti sn c gi tr khi mua vo ngy 19/8/2008 l $2,400, bit rng ngy cui cng ca k k ton th nht l 31/12/2008, gi tr thu hi c ca sn phm khi ht hn s dng l $300, s dng cch tnh ngy thng theo thc t ?

= AMORLINC(2400, DATE(2008,8,19), DATE(2008,12,31), 300, 1, 15%, 1) = $360

Coupdaybs
Tnh s ngy k t ngy u k tr li n ngy kt ton ca mt chng khon. C php: = COUPDAYBS(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn

Nu settlement v maturity khng l nhng ngy hp l, COUPDAYBS() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPDAYBS() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPDAYBS() s tr v gi tr li #NUM! Nu settlement maturity, COUPDAYBS() s tr v gi tr li #NUM!

V d:

Tnh s ngy k t ngy u k tr li n ngy kt ton ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPDAYBS(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 71 (ngy)

Coupdays
Tnh s ngy trong k li (bao gm c ngy kt ton) ca mt chng khon. C php: = COUPDAYS(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh.

Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, COUPDAYS() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPDAYS() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPDAYS() s tr v gi tr li #NUM! Nu settlement maturity, COUPDAYS() s tr v gi tr li #NUM!

V d:

Tnh s ngy trong k tr li (bao gm c ngy kt ton) ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPDAYS(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 181 (ngy)

1. Coupdaysnc
Tnh s ngy k t ngy kt ton n ngy tnh li k tip ca mt chng khon. C php: = COUPDAYSNC(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n

c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh.

Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, COUPDAYSNC() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPDAYSNC() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPDAYSNC() s tr v gi tr li #NUM! Nu settlement maturity, COUPDAYSNC() s tr v gi tr li #NUM!

V d:

Tnh s ngy k t ngy kt ton n ngy tr li k tip ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPDAYSNC(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 110 (ngy)

2. Coupncd
Cho bit ngy tnh li k tip k t sau ngy kt ton ca mt chng khon. C php: = COUPNCD(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng.

Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, COUPNCD() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPNCD() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPNCD() s tr v gi tr li #NUM! Nu settlement maturity, COUPNCD() s tr v gi tr li #NUM!

V d:

Tnh ngy tr li k tip k t sau ngy kt ton ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPNCD(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 39217 (ngy 15/5/2007)

3. Coupnum
Cho bit s ln phi tr li k t ngy kt ton n ngy o hn ca mt chng khon (s ln s c t ng lm trn n s nguyn gn nht) C php: = COUPNUM(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, COUPNUM() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPNUM() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPNUM() s tr v gi tr li #NUM! Nu settlement maturity, COUPNUM() s tr v gi tr li #NUM!

V d:

Tnh s ln phi tr li k t ngy kt ton n ngy o hn ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPNUM(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 4 (ln)

4. Couppcd
Cho bit ngy thanh ton li gn nht trc ngy kt ton ca mt chng khon. C php: = COUPPCD(settlement, maturity, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u)

Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Tt c cc tham s s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, COUPPCD() s tr v gi tr li #VALUE! Nu frequency khng phi l 1, 2 hay 4, COUPPCD() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, COUPPCD() s tr v gi tr li #NUM! Nu settlement maturity, COUPPCD() s tr v gi tr li #NUM!

V d:

Tnh ngy tr li gn nht trc ngy kt ton ca chng khon c ngy kt ton l 25/1/2007 v ngy o hn l 15/11/2008, tr li 6 thng 1 ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= COUPPCD(DATE(2007,1,25), DATE(2008,11,15), 2, 1) = 39036 (ngy 15/11/2006)

5. Cumipmt
Tr v li tc tch ly phi tr i vi mt khon vay trong khong thi gian c ch nh (kt qu tr v s l mt s m, th hin s tin phi mt i do i vay). C php: = CUMIPMT(rate, nper, pv, start_period, end_period, type) Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper.

Pv : Gi tr hin ti ca s tin vay Start_period : K u tin trong nhng k mun tnh li tc tch ly phi tr (cc k tr li c nh s bt u t 1). End_period : K cui cng trong nhng k mun tnh li tc tch ly phi tr. Type : Cch thc tr li: = 0 : Tr li vo cui k = 1 : Tr li vo u k Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu tr li hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu tr li hng nm th dng 10% cho rate v 4 cho nper. Nper, start_period, end_period, v type s c ct b phn l thp phn nu chng khng phi l s nguyn. Nu rate < 0, nper < 0, hay pv < 0, CUMIPMT() s tr v gi tr li #NUM! Nu start_period < 1, end_period < 1, hay start_period > end_period, CUMIPMT() s tr v gi tr li #NUM! Nu type khng phi l cc s 0 hay 1, CUMIPMT() s tr v gi tr li #NUM!

V d:

Vi mt khon vay $125,000 trong 30 nm vi li sut 9% mt nm, tr li hng thng vo cui k, dng CUMIPMT() ta s bit:

Li tc phi tr trong nm th 2 (t k th 13 ti k 24) l: = CUMIPMT(9%/12, 30*12, 125000, 13, 24, 0) = $11,135.23 Li tc phi tr trong thng u tin l: = CUMIPMT(9%/12, 30*12, 125000, 1, 1, 0) = $937.50 (nu ch tnh trong 1 thng th start_period end_period)

6. Cumprinc
Tr v khon tin vn tch ly phi tr i vi mt khon vay trong khong thi gian c ch nh (kt qu tr v s l mt s m, th hin s tin phi mt i do i vay). C php: = CUMPRINC(rate, nper, pv, start_period, end_period, type)

Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pv : Gi tr hin ti ca s tin vay Start_period : K u tin trong nhng k mun tnh khon tin vn tch ly phi tr (cc k tr li c nh s bt u t 1). End_period : K cui cng trong nhng k mun tnh khon tin vn tch ly phi tr. Type : Cch thc tr li: = 0 : Tr li vo cui k = 1 : Tr li vo u k Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu tr li hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu tr li hng nm th dng 10% cho rate v 4 cho nper. Nper, start_period, end_period, v type s c ct b phn l thp phn nu chng khng phi l s nguyn. Nu rate < 0, nper < 0, hay pv < 0, CUMPRINC() s tr v gi tr li #NUM! Nu start_period < 1, end_period < 1, hay start_period > end_period, CUMPRINC() s tr v gi tr li #NUM! Nu type khng phi l cc s 0 hay 1, CUMPRINC() s tr v gi tr li #NUM!

V d:

Vi mt khon vay $125,000 trong 30 nm vi li sut 9% mt nm, tr li hng thng vo cui k, dng CUMPRINC() ta s bit:

Tng tin vn tch ly phi tr trong nm th 2 (t k th 13 ti k 24) l: = CUMPRINC(9%/12, 30*12, 125000, 13, 24, 0) = $934.1071 Tin vn tch ly phi tr trong thng u tin l:

= CUMPRINC(9%/12, 30*12, 125000, 1, 1, 0) = $68.27827 (nu ch tnh trong 1 thng th start_period end_period)

7. Bd
Tnh khu hao cho mt ti sn s dng phng php s d gim dn theo mt mc c nh (fixed-declining balance method) trong mt khong thi gian xc nh. C php: = DB(cost, salvage, life, period, month) Cost : Gi tr ban u ca ti sn Salvage : Gi tr thu hi c ca ti sn (hay l gi tr ca ti sn sau khi khu hao) Life : Hn s dng ca ti sn. Period : K mun tnh khu hao. Period phi s dng cng mt n v tnh ton vi Life. Month : S thng trong nm u tin (nu b qua, mc nh l 12) Lu :

Phng php s d gim dn theo mt mc c nh (fixed-declining balance method) s tnh khu hao theo mt t sut c nh. DB() dng cng thc sau y tnh khu hao trong mt k:

DB = (cost tng khu hao cc k trc) * rate Trong : rate = 1 ((salvage / cost) ^ (1 / life)), c lm trn ti 3 s l thp phn.

Khu hao k u v k cui l nhng trng hp c bit:

Vi k u, DB() s dng cng thc = cost * rate * month / 12 Vi k cui, DB() s dng cng thc = (cost tng khu hao cc k trc) * rate * (12 month) / 12

V d:

Tnh s tin khu hao trong tt c cc k ca mt ti sn c gi tr khi mua vo ngy 1/6/2008 l $1,000,000, gi tr thu hi c ca sn phm khi ht hn s dng 6 nm l $100,000 ?

V mua vo thng 6, nn nm u tin ch tnh khu hao cho 7 thng, 5 thng cn li s tnh vo nm th 7. S tin khu hao trong cc nm nh sau:

Nm u tin: = DB(1000000, 100000, 6, 1, 7) = $186,083.33 Nm th hai: = DB(1000000, 100000, 6, 2, 7) = $259,639.42 Nm th ba: = DB(1000000, 100000, 6, 3, 7) = $176,814.44 Nm th t: = DB(1000000, 100000, 6, 4, 7) = $120,410.64 Nm th nm: = DB(1000000, 100000, 5, 7) = $81,999.64 Nm th su: = DB(1000000, 100000, 6, 7) = $55,841.76 Nm cui cng: = DB(1000000, 100000, 7, 7) = $15,845.10

8. DDB
Tnh khu hao cho mt ti sn s dng phng php s d gim dn kp (double-declining balance method), hay gim dn theo mt t l no , trong mt khong thi gian xc nh. C php: = DDB(cost, salvage, life, period, factor) Cost : Gi tr ban u ca ti sn Salvage : Gi tr thu hi c ca ti sn (hay l gi tr ca ti sn sau khi khu hao) Life : Hn s dng ca ti sn. Period : K mun tnh khu hao. Period phi s dng cng mt n v tnh ton vi Life. Factor : T l gim dn s d (nu b qua, mc nh l 2, tc s dng phng php s d gim dn kp) Lu :

Phng php s d gim dn theo mt t l nh sn s tnh khu hao theo t sut tng dn, tc l khu hao cao nht k u, v gim dn cc k k tip theo t l c nh sn (gim dn kp l s dng t l gim dn = 2). DDB() dng cng thc sau y tnh khu hao trong mt k:

DDB = MIN((cost tng khu hao cc k trc) * (factor / life), (cost salvage tng khu hao cc k trc))

Hy thay i factor, nu khng mun s dng phng php s d gim dn kp. Tt c cc tham s phi l nhng s dng.

V d:

Vi mt ti sn c gi tr khi mua vo l $2,400, gi tr thu hi c ca sn phm khi ht hn s dng l $300, hn s dng l 10 nm, ta c nhng con s khu hao nh sau y:

Khu hao cho ngy u tin, dng phng php s d gim dn kp: = DDB(2400, 300, 10*365, 1) = $1.32 Khu hao thng u tin, dng phng php s d gim dn kp: = DDB(2400, 300, 10*12, 1) = $40 Khu hao nm u tin, dng phng php s d gim dn kp: = DDB(2400, 300, 10, 1) = $480 Khu hao nm th 10, dng phng php s d gim dn kp: = DDB(2400, 300, 10, 10) = $22.12 Khu hao nm th 2, dng phng php s d gim dn theo t l 1.5: = DDB(2400, 300, 10, 2, 1.5) = $306

9. DISC
Tnh t l chit khu ca mt chng khon C php: = DISC(settlement, maturity, pr, redemption, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Pr : Gi tr ca chng khon (tnh theo n v $100) Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh.

Settlement, maturity v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, DISC() s tr v gi tr li #VALUE! Nu pr 0 hay redemption 0, DISC() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, DISC() s tr v gi tr li #NUM! Nu settlement maturity, DISC() s tr v gi tr li #NUM! Hm DISC() s tnh ton theo cng thc sau y:

Vi: B : S ngy trong mt nm (ph thuc vo basis). DSM : S ngy gia settlement v maturity. V d:

Tnh t l chit khu cho mt tri phiu kho bc c mua li ngy 25/1/2007, c ngy ti hn l 15/6/2007, gi mua l $97.975, gi tr hon li l $100, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= DISC(DATE(2007,1,25), DATE(2007,6,15), 97.975, 100, 1) = 0.052420213 (= 5.24%)

10. Dollarde
Chuyn i gi ng dollar dng phn s sang gi ng dollar dng thp phn. L hm ngc ca hm DOLLARFR(). Thng dng chuyn i s dollar dng phn s (nh cc gi tr chng khon) sang s thp phn). C php: = DOLLARDE(fractional_dollar, fraction) Fractional_dollar : Mt s c m t nh dng phn s. Fraction : S nguyn dng lm mu thc ca phn s c m t fractional_dollar. Lu :

Nu fraction khng nguyn, phn l ca fraction s b ct b tr thnh s nguyn.

Nu fraction < 0, DOLLARDE() s tr v gi tr li #NUM! Nu fraction = 0, DOLLARDE() s tr v gi tr li #DIV/0!

V d: = DOLLARDE(1.02, 16) = 1.125 (Chuyn i s 1.02, c l 1 v 2/16, sang dng thp phn) = DOLLARDE(1.1, 32) = 1.3125 (Chuyn i s 1.1, c l 1 v 10/32, sang dng thp phn)

11. Dollarfr
Chuyn i gi ng dollar dng thp phn sang gi ng dollar dng phn s. L hm ngc ca hm DOLLARDE(). Thng dng chuyn i s dollar dng thp phn (nh cc gi tr chng khon) sang phn s). C php: = DOLLARFR(decimal_dollar, fraction) Decimal_dollar : Mt s thp phn. Fraction : S nguyn dng lm mu thc ca phn s kt qu. Lu :

Nu fraction khng nguyn, phn l ca fraction s b ct b tr thnh s nguyn. Nu fraction < 0, DOLLARFR() s tr v gi tr li #NUM! Nu fraction = 0, DOLLARFR() s tr v gi tr li #DIV/0!

V d: = DOLLARFR(1.125, 16) = 1.02 (Chuyn i s thp phn 1.125 thnh mt phn s c dng l 1 v 2/16) = DOLLARFR(1.3125, 32) = 1.1 (Chuyn i s 1.3125 thnh mt phn s c l 1 v 10/32)

12. Duration
Tnh thi hn hiu lc Macauley da trn ng mnh gi $100 (USD) ca mt chng khon. Thi hn hiu lc l trung bnh trng gi tr hin ti ca dng lun chuyn tin mt v c dng lm thc o v s phn hi lm thay i li nhun ca gi tr mt chng khon. C php: = DURATION(settlement, maturity, coupon, yld, frequency, basis)

Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Coupon : Li sut hng nm ca chng khon. Yld : Li nhun hng nm ca chng khon. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, DURATION() s tr v gi tr li #VALUE! Nu coupon < 0 hay yld < 0, DURATION() s tr v gi tr li #NUM! Nu frequency khng phi l 1, 2 hay 4, DURATION() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, DURATION() s tr v gi tr li #NUM! Nu settlement maturity, DURATION() s tr v gi tr li #NUM!

V d:

Tnh thi hn hiu lc ca mt tri phiu c ngy kt ton l 01/01/2008, ngy o hn l 01/01/2016, bit li sut hng nm l 8%, li nhun hng nm l 9%, tr li 6 thng mt ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm)

= DURATION(DATE(2008,1,1), DATE(2016,1,1), 8%, 9%, 2, 1) = 5.993775

13. Effect
Tnh li sut thc t hng nm cho mt khon u t, bit trc li sut danh ngha hng nm v tng s k thanh ton li kp mi nm. y l hm ngc vi hm NOMINAL() C php: = EFFECT(nominal_rate, npery) Nominal_rate : Li sut danh ngha hng nm (phi l mt s dng) Npery : Tng s k phi thanh ton li kp mi nm. Lu :

Npery s c ct b phn l thp phn nu khng phi l s nguyn. Nu cc i s khng phi l mt con s, EFFECT() s tr v gi tr li #VALUE! Nu nominal_rate < 0 hay npery < 1, EFFECT() s tr v gi tr li #NUM! EFFECT() s tnh ton theo cng thc sau y:

V d:

Tnh li sut thc t ca mt khon u t c li sut danh ngha l 5.25% mt nm v tr li 3 thng mt ln ?

= EFFECT(5.25%, 4) = 0.0535 = 5.35%

14. Fv
Tnh gi tr tng lai (Future Value) ca mt khon u t c li sut c nh v c chi tr c nh theo k vi cc khon bng nhau mi k. C php: = FV(rate, nper, pmt [, pv] [, type])

Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pmt : S tin chi tr (hoc gi thm vo) trong mi k. S tin ny s khng thay i theo s tin tr hng nm. Ni chung, pmt bao gm tin gc v tin li, khng bao gm l ph v thu. Nu pmt = 0 th bt buc phi c pv. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai. Nu b qua pv, tr mc nh ca pv s l zero (0), v khi bt buc phi cung cp gi tr cho pmt (xem thm hm PV) Type : Hnh thc tnh li: = 0 : Tnh li vo cui mi k (mc nh) = 1 : Tnh li vo u mi k tip theo Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu tr li hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu tr li hng nm th dng 10% cho rate v 4 cho nper. Tt c cc i s th hin s tin mt "mt i" (nh gi tit kim, mua tri phiu...) cn phi c nhp vi mt s m; cn cc i s th hin s tin "nhn c" (nh tin li rt trc, li tc nhn c...) cn c nhp vi s dng.

V d:

Mt ngi gi vo ngn hng $10,000 vi li sut 5% mt nm, v trong cc nm sau, mi nm gi thm vo $200, trong 10 nm. Vy khi o hn (10 nm sau), ngi s c c s tin l bao nhiu ?

= FV(5%, 10, -200, -10000, 1) = $18,930.30 ( y dng tham s type = 1, do mi nm gi thm, nn s li gp phi tnh vo u mi k tip theo th mi chnh xc)

15. Fvschedule

Tnh gi tr tng lai (Future Value) ca mt khon u t c li sut thay i trong tng k. C php: = FVSCHEDULE(principal, schedule) Principal : Gi tr hin ti ca khon u t. Schedule : L mt mng, mt dy cc ch cc mc li sut c p dng. Cc gi tr trong schedule c th s hoc cng c th l nhng trng, nu l nhng trng, Excel s coi nh chng = 0, tc li sut = 0. Nu schedule l nhng gi tr khng phi l s, FVSCHEDULE() s tr v gi tr li #VALUE! Lu :

Gi P (principal) l s vn gc ban u, i1, i2, i3,... in l cc mc li sut trong n nm u t. Nu i1 = i2 = i3 =... in = i, ngha l cc mc li sut l c nh trong sut k u t, th ta dng hm FV = P(1+i)^n tnh (xem hm FV) Cn nu cc mc li sut ny khc nhau, th dng hm FVSCHEDULE(), hm ny tnh ton theo cng thc: FVSCHEDULE = P(1+i1)(1+i2)...(1+in)

V d:

Tnh khon tin nhn c sau ba nm ca mt khon u t $1,000,000, bit rng li sut trong ba nm ln lt l 0.09%, 0.11% v 0.1% ?

= FVSCHEDULE(1000000, {0.09, 0.11, 0.1}) = $1,330,890

16. Intrate
Tnh li sut ca mt chng khon u t ton b. C php: = INTRATE(settlement, maturity, investment, redemption, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Investment : S tin u t vo chng khon Redemption : Gi tr (s tin) nhn c ca chng khon khi o hn. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm

= 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, INTRATE() s tr v gi tr li #VALUE! Nu investment 0 hay redemption 0, INTRATE() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, INTRATE() s tr v gi tr li #NUM! Nu settlement maturity, INTRATE() s tr v gi tr li #NUM! Hm INTRATE() s tnh ton theo cng thc sau y:

Vi: B : S ngy trong mt nm (ph thuc vo basis). DIM : S ngy gia settlement v maturity. V d:

Tnh li sut ca mt chng khon c ngy kt ton l 15/2/2008, ngy o hn l 15/5/2008, s tin u t l $1,000,000, gi tr nhn c khi o hn l $1,014,420, vi c s tnh ngy l mt nm 360 ngy, cn s ngy trong mi thng th theo thc t ca thng ?

= INTRATE(DATE(2008,2,15), DATE(2008,5,15), 1000000, 1014420, 2) = 0.05768 (= 5.77%)

17. Ipmt

nh s tin c nh v phi tr nh k i vi mt khon vay c li sut khng i. Cng c th dng hm ny tnh s tin cn u t nh k (gi tit kim, chi bo him..) cui cng s c mt khon tin no . C php: = PMT(rate, nper, pv, fv, type) Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai; cng c th xem nh s vn ban u (xem thm hm PV) Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (0) (xem thm hm FV) Type : Hnh thc chi tr: = 0 : Chi tr vo cui mi k (mc nh) = 1 : Chi tr vo u mi k tip theo Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu chi tr hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu chi tr hng nm th dng 10% cho rate v 4 cho nper. Kt qu (s tin) do hm PMT() tr v bao gm tin gc v tin li, nhng khng bao gm thu v nhng khon l ph khc (nu c). Nu mun ch tnh s tin gc phi tr, ta dng hm PPMT(), cn nu mun ch tnh s tin li phi tr, dng lm IPMT().

V d:

Bn mua tr gp mt cn h vi gi $1,000,000,000, tr gp trong 30 nm, vi li sut khng i l 8% mt nm trong sut thi gian ny, vy mi thng bn phi tr cho ngi bn bao nhiu tin sau 30 nm th cn h thuc v quyn s hu ca bn ?

= PMT(8%/12, 30*12, 1000000000) = $7,337,645/74

 cng thc trn, i s fv = 0, l do sau khi thanh ton xong khon tin cui cng, th bn khng cn n na. Nhng ng li, v nhm mt t, ta s thy mua tr gp.. thnh mua mc gp hn 2 ln ! Khng tin bn th ly p s nhn vi 12 thng nhn vi 30 xem..

Bn mun c mt s tin tit kim l $50,000,000 sau 10 nm, bit rng li sut (khng i) ca ngn hng l 12% mt nm, vy t by gi, hng thng bn phi gi vo ngn hng bao nhiu tin ?

= PMT(12%/12, 10*12, 0, 50000000) = $217,354.74 cng thc trn, i s pv = 0, l do ngay t u, bn khng c ng no trong ngn hng c.

18. Irr
Tnh li sut ni hm (hay cn gi l hm tnh t sut lu hnh ni b, hay t sut hon vn ni b) cho mt chui cc lu ng tin mt c th hin bi cc tr s. Cc lu ng tin mt ny c th khng bng nhau, nhng chng phi xut hin nhng khong thi gian bng nhau (hng thng, hng nm chng hn). Li sut thc t l li sut nhn c t mt khon u t gm cc khon chi tr (tr m) v cc khon thu nhp (tr dng) xut hin nhng k n nh. Li sut ni hm IRR (hay t sut hon vn ni b) l mc li sut m nu dng n lm sut chit khu tnh chuyn cc khon thu chi ca d n v cng mt bng thi gian hin ti th tng thu s cn bng vi tng chi, tc l NPV = 0. Nu IRR > li sut chit khu (xem hm NPV) th coi nh d n kh thi, cn ngc li th khng. C php: = IRR(values, guess) Values : L mt mng hoc cc tham chiu n cc c cha s liu cn cho vic tnh ton li sut thc t. - Values phi cha t nht 1 gi tr m v 1 gi tr dng. - IRR() s dng th t cc gi tr ca values nh l th t lu ng tin mt. Do cn cn thn cc th t chi tr hoc thu nhp lun c nhp ng. - IRR() ch tnh ton cc gi tr s bn trong cc mng hoc tham chiu ca values; cn cc rng, cc gi tr logic, text hoc cc gi tr li u s b b qua. Guess : Mt con s % c lng gn vi kt qu ca IRR(). Nu b qua, th mc nh guess = 10%. - Excel dng chc nng lp trong php tnh IRR. Bt u vi guess, IRR lp cho ti khi kt qu chnh xc trong khong 0.00001%. Nu IRR khng th a ra kt qu sau 20 ln lp, IRR s tr v gi tr li #NUM! - Trong trng hp IRR tr v gi tr li #NUM!, hoc nu kt qu khng xp x gi tr mong i, hy th li vi mt gi tr guess khc.

Lu :

IRR() c lin quan mt thit vi hm NPV(), l hm tnh hin gi rng ca mt khon u t. T sut do IRR tr v chnh l li sut rate sao cho NPV = 0.

V d:

Mt d n u t c chi ph tnh n thi im d n bt u i vo hot ng sn xut l 100 triu USD, doanh thu hng nm ca d n l 50 triu USD. Chi ph hng nm l 20 triu USD, i ca d n l 5 nm. Hy xc nh t sut hon vn ni b bit li sut vay di hn l 12%/nm.

= IRR({-100000000, 30000000, 30000000, 30000000, 30000000, 30000000}) = 15% Do 15% > 12% nn d n mang tnh kh thi.

Mt d n u t c chi ph tnh n thi im d n bt u i vo hot ng sn xut l 70 triu USD, li thc trong nm th nht l 12 triu USD, trong nm th hai l 15 triu USD, trong nm th ba l 18 triu USD, trong nm th t l 21 triu USD v trong nm th nm l 26 triu USD. Tnh IRR ca d n ny sau 2 nm, sau 4 nm, sau 5 nm ?

IRR sau 2 nm: = IRR({-70000000, 12000000, 15000000}, -10%) = -44% (nu khng cho guess = -10%, IRR s tr v li #NUM!) IRR sau 4 nm: = IRR({-70000000, 12000000, 15000000, 18000000, 21000000}) = -2% IRR sau 5 nm: IRR({-70000000, 12000000, 15000000, 18000000, 21000000, 26000000}) = 9% Khng cn bit li sut cho vay di hn thc hin d n, ta cng c th thy rng d n ny t nht phi sau 5 nm mi mang tnh kh thi.

19. Ispmt
Tnh s tin li tr ti mt k no i vi mt khon vay c li sut khng i, sau khi tr s tin gc phi tr cho k . V d, bn vay mt khon tin $3,000 trong 3 nm vi li sut 10%/nm, mi nm thanh ton li cng gc mt ln. Sau nm th nht, bn tr bt 1/3 s tin gc, bn ch cn n li $2,000, v ISPMT() s cho bit s tin li tr ca nm th nht trn s tin $2,000 ny, l bng $200. V theo nh ngha ny, d thy rng kt qu ca ISPMT() cho k cui cng bao gi cng l 0. C php: = ISPMT(rate, per, nper, pv)

Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Per : S th t ca k cn tnh li. Per phi l mt con s t 1 n nper v phi c cng n v tnh nht qun vi nper. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai. Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu chi tr hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu chi tr hng nm th dng 10% cho rate v 4 cho nper.

V d:

S tin li tr cho vic chi tr hng thng ca thng u tin ca khon vay $8,000,000, vay trong 3 nm vi li sut khng i l 10% mt nm, c tnh theo cng thc sau:

= ISPMT(10%/12, 1, 3*12, 8000000) = - $64,818.82

20. Mduration
Tnh thi hn hiu lc Macauley c sa i da trn ng mnh gi $100 (USD) ca mt chng khon. Nu so snh vi hm DURATION(), th MDURATION() c nh ngha nh sau:

C php: = DURATION(settlement, maturity, coupon, yld, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua.

Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Coupon : Li sut hng nm ca chng khon. Yld : Li nhun hng nm ca chng khon. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, MDURATION() s tr v gi tr li #VALUE! Nu coupon < 0 hay yld < 0, MDURATION() s tr v gi tr li #NUM! Nu frequency khng phi l 1, 2 hay 4, MDURATION() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, MDURATION() s tr v gi tr li #NUM! Nu settlement maturity, MDURATION() s tr v gi tr li #NUM!

V d:

Tnh thi hn hiu lc sa i ca mt tri phiu c ngy kt ton l 01/01/2008, ngy o hn l 01/01/2016, bit li sut hng nm l 8%, li nhun hng nm l

9%, tr li 6 thng mt ln, vi c s tnh ngy l bnh thng (theo thc t ngy thng nm) = MDURATION(DATE(2008,1,1), DATE(2016,1,1), 8%, 9%, 2, 1) = 5.73567

21. Mirr
Tnh t sut doanh li ni ti (hay cn gi l ni sut thu hi vn bin - Marginal Internal Rate of Return) trong mt chui lun chuyn tin mt c th hin bi cc tr s. Cc lu ng tin mt ny c th khng bng nhau, nhng chng phi xut hin nhng khong thi gian bng nhau (hng thng, hng nm chng hn). bi vit v hm IRR(), ti c ni rng: "Li sut ni hm IRR (hay t sut hon vn ni b) l mc li sut m nu dng n lm sut chit khu tnh chuyn cc khon thu chi ca d n v cng mt bng thi gian hin ti th tng thu s cn bng vi tng chi, tc l NPV = 0. Nu IRR > li sut chit khu (xem hm NPV) th coi nh d n kh thi, cn ngc li th khng." Cch tnh MIRR cng gn tng t vi cch tnh IRR. Ch khc l: trc khi lm cho NPV = 0, th ngi ta quy i vn u t ban u v 0 v quy i cc khon thu nhp ca d n v nm cui cng (thi im kt thc d n), sau mi i tm mt t sut lm cn bng hai gi tr ny. T sut phi tm chnh l MIRR.

C php: = MIRR(values, finance_rate, reinvest_rate) Values : L mt mng hoc cc tham chiu n cc c cha s liu cn cho vic tnh ton. - Values phi cha t nht 1 gi tr m v 1 gi tr dng. - MIRR() ch tnh ton cc gi tr s bn trong cc mng hoc tham chiu ca values; cn cc rng, cc gi tr logic, text hoc cc gi tr li u s b b qua. Finance_rate : Li sut phi tr cho khon tin vn ban u ca d n. Reinvest_rate : Li sut thu c da trn vic lun chuyn tin mt khi ti u t. Lu : Nu n l s vng lun chuyn tin mt ca cc values, th MIRR c tnh theo cng thc sau y:

V d:

Mt d n u t c s vn vay ban u l $120,000 (USD) vi li sut hng nm l 10%, c doanh thu t nm th nht n nm th 5 ln lt l: $39,000, $30,000, $21,000, $37,000 v $46,000. Bit li sut hng nm thu c vi khon li nhun ti u t l 12%, tnh MIRR ca d n sau 3 nm, sau 5 nm ?

MIRR sau 3 nm: = MIRR({-120000, 39000, 30000, 21000}, 10%, 12%) = -5% MIRR sau 5 nm: = MIRR({-120000, 39000, 30000, 21000, 37000, 46000}, 10%, 12%) = 13%

22. Nominal
Tnh li sut danh ngha hng nm cho mt khon u t, bit trc li sut thc t hng nm v tng s k thanh ton li kp mi nm. y l hm ngc vi hm EFFECT() C php: = NOMINAL(effect_rate, npery) Effect_rate : Li sut thc t hng nm (phi l mt s dng) Npery : Tng s k phi thanh ton li kp mi nm. Lu :

Npery s c ct b phn l thp phn nu khng phi l s nguyn. Nu cc i s khng phi l mt con s, NOMINAL() s tr v gi tr li #VALUE! Nu effect_rate < 0 hay npery < 1, NOMINAL() s tr v gi tr li #NUM! Hm NOMINAL() c lin h vi hm EFFECT() theo cng thc sau y:

V d:

Tnh li sut danh ngha ca mt khon u t c li sut thc t l 5.35% mt nm v tr li 3 thng mt ln ?

= NOMINAL(5.35%, 4) = 0.0525 = 5.25%

23. Nper
Tnh s k hn tr mt khon vay c li sut khng i v thanh ton theo nh k vi cc khon thanh ton bng nhau mi k. Cng c th dng hm ny tnh s k hn gi vo cho mt khon u t c li sut khng i, tnh li theo nh k v s tin gi vo bng nhau mi k (Vd: u t vo vic mua bo him nhn th ca Prudential chng hn)

C php: = NPER(rate, pmt, pv, fv, type) Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Pmt : S tin phi tr trong mi k. S tin ny s khng thay i trong sut nm. Pmt bao gm c tin gc v tin li (khng bao gm l ph v thu). V d, s tin phi tr hng thng l $10,000 cho khon vay mua xe trong 4 nm vi li sut 12% mt nm l $263.33; bn c th nhp -263.33 vo cng thc lm gi tr cho pmt. Nu pmt = 0 th bt buc phi c fv. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai. Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (v d, sau khi bn thanh ton ht khon vay th s n ca bn s bng 0). Type : Hnh thc tnh li: = 0 : Tnh li vo cui mi k (mc nh) = 1 : Tnh li vo u mi k tip theo V d:

C mt cn h bn tr gp theo hnh thc sau: Gi tr ca cn h l $500,000,000, tr trc 30%, s cn li c tr gp $3,000,000 mi thng (bao gm c tin n gc v li), bit li sut l 12% mt nm, vy bn phi tr trong bao nhiu nm th mi xong ?

Ta i tm cc i s cho hm NPER: Gi tr cn h = $500,000,000 = fv Tr trc 30% = - $500,000,000*30% = pv S tin tr gp hng thng = - $3,000,000 = pmt Li sut = 12%/nm, do s tin tr gp l hng thng nn phi quy li sut ra thng, tc rate = 12%/12 Vy ta c cng thc: = NPER(12%/12, -3000000, -500000000*30%, 500000000) = 58 (thng) hay l 4.82 nm Th kim tra li vi hm PMT, ngha l coi nh cha bit mi thng phi tr gp bao nhiu tin, nhng bit l phi tr trong 58 thng: = PMT(12%/12, 58, -500000000*30%, 500000000) = $2,982,004 p s khng th chnh xc = $3,000,000 v con s 58 (thng) trn l con s lm trn. Nu bn ly p s ca cng thc NPER (cha lm trn) trn lm tham s nper cho hm PMT di, bn s c p s chnh xc l $3,000,000

24. Npv
Tnh hin gi rng ca mt khon u t bng cch s dng t l chit khu vi cc khon chi tr (hoc thu nhp) theo nhng k hn u n. Nu cc k hn khng u n, dng hm XNPV(). Hm ny thng c dng nh gi tnh kh thi v mt ti chnh ca mt d n u t v l thuyt cng nh thc tin. Nu kt qu ca NPV() 0 th d n mang tnh kh thi; cn ngc li, nu kt qu ca NPV() < 0 th d n khng mang tnh kh thi. C php: = NPV(rate, value1, value2, ...) Rate : T sut chit khu trong sut thi gian sng ca khon u t (sut thi gian thc hin d n chng hn). T sut ny c th th hin t l lm pht hoc li sut u t lm pht. Value1, value2, ... : Cc khon chi tr hoc thu nhp trong cc k hn ca khon u t. C th dng t 1 n 254 gi tr (vi Excel 2003 tr v trc th con s ny ch l 29) - Cc tr value1, value2, ... phi cch u nhau v thi gian v phi xut hin cui mi k. - NPV() s dng th t cc gi tr value1, value2, ... nh l th t lu ng tin mt. Do cn cn thn cc th t chi tr hoc thu nhp lun c nhp ng. - Nu value1, value2, ... l rng, s c xem nh = 0; nhng gi tr logic, hoc cc chui th hin s liu cng s c s dng vi gi tr ca n; ring cc i s l cc gi tr li, hay text, hoc khng th dch thnh s, th s c b qua. - Nu value1, value2, ... l cc mng hoc tham chiu, th ch c cc gi tr s bn trong cc mng hoc tham chiu mi c s dng tnh ton; cn cc rng, cc gi tr logic, text hoc cc gi tr li u s b b qua. Lu :

NPV() ch tnh ton vi k bt u vo trc ngy ca lu ng tin mt value1 v kt thc bng lu ng tin mt cui cng trong sanh sch. Vic tnh ton ca NPV() da trn c s lu ng tin mt k hn, do , nu lu ng tin mt u tin xut hin u k th nht (vn ban u chng hn), th n phi c cng thm vo kt qu ca hm NPV(), ch khng c xem l i s value1. Nu coi n l s lu ng tin mt trong danh sch cc value, th hm NPV() tnh ton theo cng thc sau y:

Hm NPV() cng lm vic tng t hm PV(), l hm tnh gi tr hin ti, ch khc l PV() cho php cc lu ng tin mt c bt u u k hay cui k cng c, cn NPV() th cc lu ng tin mt lun cui k; v cc lu ng tin mt trong hm PV()

th khng thay i trong sut thi gian u t, nhng cc lu ng tin mt trong hm NPV() th c th thay i.

Hm NPV() c lin quan mt thit vi hm IRR(), l hm tnh t sut lu hnh ni b, hay t sut hon vn ni b, hoc cn gi l hm tnh li sut ni hm. IRR() l li sut ni hm m NPV() bng 0: NPV(IRR(...), ...) = 0

V d:

Tnh NPV cho mt d n u t c vn ban u l 1 t ng, doanh thu hng nm l 0,5 t, chi ph hng nm l 0,2 t, thi gian thc hin l 4 nm, vi li sut chit khu l 8%/nm ?

Vn ban u 1 t ng c trc khi c doanh thu ca nm th nht, nn s khng tnh vo cng thc. V do y l vn b ra, nn n s th hin l s m. Gi tr lu ng tin mt s bng doanh thu tr i chi ph, bng 0,3 t, l mt s dng. Theo bi ny, value1 = value2 = value3 = value4 = 0.3 = NPV(8%, 0.3, 0.3, 0.3, 0.3) - 1 = -0.006 Do NPV < 0 nn d n theo bi cho ra l khng kh thi.

Tnh NPV cho mt d n u t c vn ban u l $40,000, li sut chit khu l 8%/nm, doanh thu trong 5 nm u ln lt l $8,000, $9,200, $10,000, $12,000 v $14,500, n nm th su th l $9,000 ?

Hin gi rng (NPV) ca d n ni trn trong 5 nm u l kh thi v: = NPV(8%, 8000, 9200, 10000, 12000, 14500) - 40000 = 1,922.06 > 0 Nhng n nm th su th li mt tnh kh thi v: = NPV(8%, 8000, 9200, 10000, 12000, 14500, -9000) - 40000 = -3,749.47 > 0

Tnh NPV cho mt d n u t 4 nm c chi ph ban u l $10,000 tnh t ngy hm nay, li sut chit khu l 10%/nm, doanh thu trong 3 nm tip theo ln lt l $3,000, $4,200, v $6,800 ?

Hin gi rng (NPV) ca d n ni trn l kh thi v: = NPV(10%, -10000, 3000, 4200, 6800) = 1,188.44 > 0 y, gi tr ban u $10,000 c xem l chi ph th nht v vic chi tr xy ra vo cui k th nht.

25. Oddfprice

Tr v gi tr ca mt chng khon c k tnh li (ngn hn hoc di hn) u tin l l (da trn mnh gi ng $100) C php: = ODDFPRICE(settlement, maturity, issue, first_coupon, rate, yld, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Issue : Ngy pht hnh chng khon. First_coupon : Ngy tnh li phiu u tin ca chng khon, ngy ny phi l mt ngy sau ngy kt ton v trc ngy o hn. Rate : Li sut hng nm ca chng khon. Yld : Li nhun hng nm ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, issue, first_coupon v basis s c ct b phn l nu chng khng phi l s nguyn. Nu settlement, maturity, issue hay first_coupon khng l nhng ngy hp l, ODDFPRICE() s tr v gi tr li #VALUE!

Nu rate < 0 hay yld < 0, ODDFPRICE() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, ODDFPRICE() s tr v gi tr li #NUM! Cc gi tr ngy thng phi theo trnh t sau: maturity > first_coupon > settlement > issue; nu khng, ODDFPRICE() s tr v gi tr li #NUM! ODDFPRICE() c tnh theo cng thc sau:

- Vi k tnh li ngn hn l u tin (odd short first coupon):

- Vi k tnh li di hn l u tin (odd long first coupon):

V d:

Tnh gi tr ca mt tri phiu c gi tr hon li (da trn ng $100) l $100 v c k tnh li u tin l l, bit ngy pht hnh l 15/10/2008, ngy kt ton l 11/11/2008, ngy o hn l 01/3/2021, ngy tnh li phiu u tin l 01/3/2009, li sut hng nm l 7.85%, tnh li 6 thng mt ln, li nhun hng nm l 6.25%, v c s tnh ngy l mt nm 360 ngy, cn s ngy ca mi thng th theo thc t ?

= ODDFPRICE(DATE(2008,11,11), DATE(2021,3,1), DATE(2008,10,15), DATE(2009,3,1), 7.85%, 6.25%, 100, 2, 1) = $113.598

26. Oddfyield

Tr v li nhun (hng nm) ca mt chng khon c k tnh li (ngn hn hoc di hn) u tin l l. C php: = ODDFYIELD(settlement, maturity, issue, first_coupon, rate, pr, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Issue : Ngy pht hnh chng khon. First_coupon : Ngy tnh li phiu u tin ca chng khon, ngy ny phi l mt ngy sau ngy kt ton v trc ngy o hn. Rate : Li sut hng nm ca chng khon. Pr : Gi ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, issue, first_coupon v basis s c ct b phn l nu chng khng phi l s nguyn. Nu settlement, maturity, issue hay first_coupon khng l nhng ngy hp l, ODDFYIELD() s tr v gi tr li #VALUE!

Nu rate < 0 hay pr 0, ODDFYIELD() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, ODDFYIELD() s tr v gi tr li #NUM! Cc gi tr ngy thng phi theo trnh t sau: maturity > first_coupon > settlement > issue; nu khng, ODDFYIELD() s tr v gi tr li #NUM! Excel dng chc nng lp trong php tnh ODDFYIELD. Hm ny dng phng php Newton da trn cng thc tnh ODDFPRICE.

V d:

Tnh li nhun hng nm ca mt tri phiu tr gi $84.50, gi tr hon li (da trn ng $100) l $100 v c k tnh li u tin l l, bit ngy pht hnh l 15/10/2008, ngy kt ton l 11/11/2008, ngy o hn l 01/3/2021, ngy tnh li phiu u tin l 01/3/2009, li sut hng nm l 5.75%, tnh li 6 thng mt ln, v c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy (theo kiu Bc M) ?

= ODDFYIELD(DATE(2008,11,11), DATE(2021,3,1), DATE(2008,10,15), DATE(2009,3,1), 5.75%, 84.5, 100, 2, 0) = 0.07725 (= 7.72%)

27. Oddlprice
Tr v gi tr ca mt chng khon c k tnh li (ngn hn hoc di hn) cui cng l l (da trn mnh gi ng $100) C php: = ODDLPRICE(settlement, maturity, last_interest, rate, yld, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Last_interest : Ngy tnh li phiu cui cng ca chng khon; ngy ny phi l mt ngy trc ngy kt ton. Rate : Li sut hng nm ca chng khon. Yld : Li nhun hng nm ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4.

Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, last_interest v basis s c ct b phn l nu chng khng phi l s nguyn. Nu settlement, maturity hay last_interest khng l nhng ngy hp l, ODDLPRICE() s tr v gi tr li #VALUE! Nu rate < 0 hay yld < 0, ODDLPRICE() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, ODDLPRICE() s tr v gi tr li #NUM! Cc gi tr ngy thng phi theo trnh t sau: maturity > settlement > last_interest; nu khng, ODDLPRICE() s tr v gi tr li #NUM!

V d:

Tnh gi tr ca mt tri phiu c gi tr hon li (da trn ng $100) l $100 v c k tnh li cui cng l l, ngy kt ton l 7/02/2008, ngy o hn l 15/6/2008, ngy tnh li phiu cui cng l 15/10/2007, li sut hng nm l 3.75%, tnh li 6 thng mt ln, li nhun hng nm l 4.05%, v c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy (theo kiu Bc M) ?

= ODDLPRICE(DATE(2008,2,7), DATE(2008,6,15), DATE(2007,10,15), 3.75%, 4.05%, 100, 2, 0) = $99.8783

28. Oddlyield

Tr v li sut (hng nm) ca mt chng khon c k tnh li (ngn hn hoc di hn) cui cng l l. C php: = ODDLYIELD(settlement, maturity, last_interest, rate, pr, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Last_interest : Ngy tnh li phiu cui cng ca chng khon; ngy ny phi l mt ngy trc ngy kt ton. Rate : Li sut hng nm ca chng khon. Pr : Gi tr ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, last_interest v basis s c ct b phn l nu chng khng phi l s nguyn. Nu settlement, maturity hay last_interest khng l nhng ngy hp l, ODDLYIELD() s tr v gi tr li #VALUE! Nu rate < 0 hay pr < 0, ODDLYIELD() s tr v gi tr li #NUM!

Nu basis < 0 hay basis > 4, ODDLYIELD() s tr v gi tr li #NUM! Cc gi tr ngy thng phi theo trnh t sau: maturity > settlement > last_interest; nu khng, ODDLYIELD() s tr v gi tr li #NUM! ODDLYIELD c tnh theo cng thc sau:

V d:

Tnh li sut hng nm ca mt tri phiu tr gi $99.875, c gi tr hon li (da trn ng $100) l $100 v c k tnh li cui cng l l, bit ngy kt ton l 20/4/2008, ngy o hn l 15/6/2008, ngy tnh li phiu cui cng l 24/12/2007, li sut hng nm l 3.75%, tnh li 6 thng mt ln, li nhun hng nm l 4.05%, v c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy (theo kiu Bc M) ?

= ODDLYIELD(DATE(2008,4,20), DATE(2008,6,15), DATE(2007,12,25), 3.75%, 99.875, 100, 2, 0) = 0.045192 (= 4.52%)

29. Pmt
nh s tin c nh v phi tr nh k i vi mt khon vay c li sut khng i. Cng c th dng hm ny tnh s tin cn u t nh k (gi tit kim, chi bo him..) cui cng s c mt khon tin no . C php: = PMT(rate, nper, pv, fv, type)

Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai; cng c th xem nh s vn ban u (xem thm hm PV) Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (0) (xem thm hm FV) Type : Hnh thc chi tr: = 0 : Chi tr vo cui mi k (mc nh) = 1 : Chi tr vo u mi k tip theo Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu chi tr hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu chi tr hng nm th dng 10% cho rate v 4 cho nper. Kt qu (s tin) do hm PMT() tr v bao gm tin gc v tin li, nhng khng bao gm thu v nhng khon l ph khc (nu c). Nu mun ch tnh s tin gc phi tr, ta dng hm PPMT(), cn nu mun ch tnh s tin li phi tr, dng lm IPMT().

V d:

Bn mua tr gp mt cn h vi gi $1,000,000,000, tr gp trong 30 nm, vi li sut khng i l 8% mt nm trong sut thi gian ny, vy mi thng bn phi tr cho ngi bn bao nhiu tin sau 30 nm th cn h thuc v quyn s hu ca bn ?

= PMT(8%/12, 30*12, 1000000000) = $7,337,645/74 cng thc trn, i s fv = 0, l do sau khi thanh ton xong khon tin cui cng, th bn khng cn n na. Nhng ng li, v nhm mt t, ta s thy mua tr gp.. thnh mua mc gp hn 2 ln ! Khng tin bn th ly p s nhn vi 12 thng nhn vi 30 xem..

Bn mun c mt s tin tit kim l $50,000,000 sau 10 nm, bit rng li sut (khng i) ca ngn hng l 12% mt nm, vy t by gi, hng thng bn phi gi vo ngn hng bao nhiu tin ?

= PMT(12%/12, 10*12, 0, 50000000) = $217,354.74 cng thc trn, i s pv = 0, l do ngay t u, bn khng c ng no trong ngn hng c.

30. Ppmt
Tnh s tin n gc phi tr ti mt k hn no i vi mt khon vay c li sut khng i v thanh ton theo nh k vi cc khon thanh ton bng nhau mi k. C php: = PPMT(rate, per, nper, pv, fv, type) Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Per : S th t ca k cn tnh li. Per phi l mt con s t 1 n nper v phi c cng n v tnh nht qun vi nper. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai; cng c th xem nh s vn ban u (xem thm hm PV) Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (0) (xem thm hm FV) Type : Hnh thc tnh li: = 0 : Tnh li vo cui mi k (mc nh) = 1 : Tnh li vo u mi k tip theo Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu chi tr hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu chi tr hng nm th dng 10% cho rate v 4 cho nper.

Kt qu (s tin) do hm PMT() tr v bao gm tin n gc v tin li. Nu mun ch tnh s tin n gc phi tr, ta dng hm PPMT(), cn nu mun ch tnh s tin li phi tr, dng lm IPMT().

V d:

C mt khon vay nh sau: S tin vay l $200,000, vay trong 8 nm vi li sut khng i l 10% mt nm, tr li nh k theo tng thng. Cho bit s n gc phi thanh ton trong thng u tin ca nm th hai? V s n gc phi thanh ton trong nm cui cng ?

S n gc phi thanh ton trong thng u tin ca nm th hai = s vn phi thanh ton trong k th 13: = PPMT(10%/12, 13, 8*12, 200000) = $1,511.43 S n gc phi thanh ton trong nm cui cng: = PPMT(10%, 8, 8, 200000) = $34,080.73 Test:

Th kim tra li kt qu gia cc hm PMT(), IPMT() v PPMT()

S tin (c n gc ln li) phi thanh ton trong tng nm vi khon vay v d trn y l: = PMT(10%, 8, 200000) = $37,488,80 S tin n gc phi thanh ton trong nm cui cng vi khon vay v d trn y l: = PPMT(10%, 8, 200000) = $34,080.73 S tin li phi thanh ton trong nm cui cng vi khon vay v d trn y l (xem v d hm IPMT): = IPMT(10%, 8, 200000) = $3,408.07 R rng l: S tin n gc phi thanh ton trong nm cui cng ($34,080.73) + S tin li phi thanh ton trong nm cui cng ($3,408.07) = S tin (c n gc ln li) phi thanh ton trong tng nm ($37,488,80)

31. Price
Tnh gi tr ca mt chng khon thanh ton li tc theo chu k da trn mnh gi ng $100 C php: = PRICE(settlement, maturity, rate, yld, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Rate : Li sut hng nm ca chng khon.

Yld : Li nhun hng nm ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, frequency v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, PRICE() s tr v gi tr li #VALUE! Nu yld < 0 hay rate < 0, PRICE() s tr v gi tr li #NUM! Nu redemtion 0, PRICE() s tr v gi tr li #NUM! Nu frequency khng phi l 1, 2 hay 4, PRICE() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, PRICE() s tr v gi tr li #NUM! Nu settlement maturity, PRICE() s tr v gi tr li #NUM! PRICE() c tnh theo cng thc sau:

V d:

Tnh gi tr ca mt tri phiu c gi tr hon li (da trn ng $100) l $100, bit ngy kt ton l 15/2/2008, ngy o hn l 15/11/2017, thanh ton li 6 thng mt ln vi li sut hng nm l 11.5%, li nhun hng nm ca tri phiu l 6.5%, v c s tnh ngy l kiu Bc M (mt nm 360 ngy, mt thng 30 ngy) ?

= PRICE(DATE(2008,2,15), DATE(2017,11,15), 11.5%, 6.5%, 100, 2) = $135.67

32. Pricedisc
Tnh gi tr ca mt chng khon chit khu da trn mnh gi ng $100 C php: = PRICEDISC(settlement, maturity, discount, redemption, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Discount : T l chit khu ca chng khon. Redemption : Gi tr hon li ca chng khon (tnh theo n v $100) Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u)

Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, PRICEDISC() s tr v gi tr li #VALUE! Nu discount 0 hay redemtion 0, PRICEDISC() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, PRICEDISC() s tr v gi tr li #NUM! Nu settlement maturity, PRICEDISC() s tr v gi tr li #NUM! PRICEDISC() c tnh theo cng thc sau:

V d:

Tnh gi tr ca mt tri phiu c gi tr hon li (da trn ng $100) l $100, bit ngy kt ton l 16/2/2008, ngy o hn l 01/3/2008, t l chit khu ca chng khon l 5.25% v c s tnh ngy l mt nm 360 ngy, cn s ngy ca mi thng th theo thc t ?

= PRICEDISC(DATE(2008,2,16), DATE(2008,3,1), 5.25%, 100, 2) = $99.80

33. Pricemat
Tnh gi tr ca mt chng khon thanh ton li vo ngy o hn, da trn mnh gi ng $100

C php: = PRICEMAT(settlement, maturity, issue, rate, yld, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Issue : Ngy pht hnh chng khon. Rate : Li sut hng nm ca chng khon. Yld : Li nhun hng nm ca chng khon. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, issue v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement, maturity hay issue khng l nhng ngy hp l, PRICEMAT() s tr v gi tr li #VALUE! Nu yld < 0 hay rate < 0, PRICEMAT() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, PRICEMAT() s tr v gi tr li #NUM! Nu settlement maturity, PRICEMAT() s tr v gi tr li #NUM! PRICEMAT() c tnh theo cng thc sau:

V d:

Tnh gi tr ca mt tri phiu (da trn ng $100) c ngy pht hnh l 11/11/2007, ngy kt ton l 15/2/2008, ngy o hn l 15/4/2008, li sut hng nm l 11.5% v thanh ton li vo ngy o hn, li nhun hng nm ca tri phiu l 6.1%, v c s tnh ngy l kiu Bc M (mt nm 360 ngy, mt thng 30 ngy) ?

= PRICEMAT(DATE(2008,2,15), DATE(2008,4,15), DATE(2007,11,11), 11.5%, 6.1%) = $100.86

34. Pv
Tnh gi tr hin ti (Present Value) ca mt khon u t. C php: = PV(rate, nper, pmt, fv, type) Rate : Li sut ca mi k (tnh theo nm). Nu tr li hng thng th bn chia li sut cho 12. V d, nu bn kim c mt khon vay vi li sut 10% mi nm, tr li hng thng, th li sut hng thng s l 10%/12, hay 0.83%; bn c th nhp 10%/12, hay 0.83%, hay 0.0083 vo cng thc lm gi tr cho rate. Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pmt : S tin phi tr (hoc gi thm vo) trong mi k. S tin ny s khng thay i trong sut nm. Ni chung, pmt bao gm tin gc v tin li, khng bao gm l ph v thu. V d, s tin phi tr hng thng l $10,000 cho khon vay mua xe trong 4 nm vi li sut 12% mt nm l $263.33; bn c th nhp -263.33 vo cng thc lm gi tr cho pmt. Nu pmt = 0 th bt buc phi c fv.

Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (0), v khi bt buc phi cung cp gi tr cho pmt (xem thm hm FV) V d, bn mun tit kim $50,000 tr cho mt d n trong 18 nm, th $50,000 l gi tr tng lai ny. Type : Hnh thc tnh li: = 0 : Tnh li vo cui mi k (mc nh) = 1 : Tnh li vo u mi k tip theo Lu :

Rate v Nper phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu tr li hng thng th dng 10%/12 cho rate v 4*12 cho nper; cn nu tr li hng nm th dng 10% cho rate v 4 cho nper. C l nn ni mt cht v khi nim "nin kim" (annuities): Mt nin kim l mt lot cc t tr tin mt, c thc hin vo mi k lin nhau. V d, mt khon vay mua xe hi hay mt khon th chp, gi l mt nin kim. Bn nn tham kho thm cc hm sau, c p dng cho nin kim: CUMIPMT(), CUMPRINC(), FV(), FVSCHEDULE(), IPMT(), NPER(), PMT(), PPMT(), PV(), RATE(). Trong cc hm v nin kim k trn, tin mt c chi tr th hin bng s m, tin mt thu nhn c th hin bng s dng. V d, vic gi $1,000 vo ngn hng s th hin bng i s -1000 nu bn l ngi gi tin, v th hin bng s 1000 nu bn l ngn hng. Mt i s trong cc hm ti chnh thng ph thuc vo nhiu i s khc. Nu rate khc 0 th:

Nu rate bng 0 th:

V d:

Bn mun c mt s tin tit kim l $3,000,000 sau 10 nm, bit rng li sut ngn hng l 8% mt nm, vy t by gi bn phi gi vo ngn hng bao nhiu tin ?

= PV(8%, 10, 0, 3000000) = $1,389,580.46

35. Rate
Tnh li sut ca mi k trong mt nin kim (annuity), hay l tnh li sut ca mi k ca mt khon vay. RATE() c tnh bi php lp v c th c mt hay nhiu kt qu. Nu cc kt qu ca RATE() khng th hi t vo trong 0.0000001 sau 20 ln lp, RATE() s tr v gi tr li #VALUE! C php: = RATE(nper, pmt, pv, fv, type, guess) Nper : Tng s k phi tr li (tnh theo nm). Nu s k tr li l hng thng, bn phi nhn n vi 12. V d, bn mua mt ci xe vi khon tr gp 4 nm v phi tr li hng thng, th s k tr li s l 4*12 = 48 k; bn c th nhp 48 vo cng thc lm gi tr cho nper. Pmt : S tin phi tr trong mi k. S tin ny s khng thay i trong sut nm. Pmt bao gm c tin gc v tin li (khng bao gm l ph v thu). V d, s tin phi tr hng thng l $10,000 cho khon vay mua xe trong 4 nm vi li sut 12% mt nm l $263.33; bn c th nhp -263.33 vo cng thc lm gi tr cho pmt. Nu b qua pmt th bt buc phi c fv. Pv : Gi tr hin ti (hin gi), hoc l tng gi tr tng ng vi mt chui cc khon phi tr trong tng lai. Fv : Gi tr tng li. Vi mt khon vay, th n l s tin n gc cn li sau ln tr li sau cng; nu l mt khon u t, th n l s tin s c c khi o hn. Nu b qua fv, tr mc nh ca fv s l zero (v d, sau khi bn thanh ton ht khon vay th s n ca bn s bng 0). Type : Hnh thc tnh li: = 0 : Tnh li vo cui mi k (mc nh) = 1 : Tnh li vo u mi k tip theo Guess : Gi tr ca li sut hng nm (rate), do bn d on. Nu b qua, Excel s mc nh cho guess = 10%. Lu :

Nu RATE() bo li #VALUE! (do khng hi t), hy th vi cc gi tr khc cho guess. Nper v Guess phi s dng n v tnh ton nht qun vi nhau. V d: Vi khon vay trong 4 nm, li sut hng nm l 10%, nu chi tr hng thng th dng 10%/12 cho guess v 4*12 cho nper; cn nu chi tr hng nm th dng 10% cho guess v 4 cho nper. C l nn ni mt cht v khi nim "nin kim" (annuities): Mt nin kim l mt lot cc t tr tin mt, c thc hin vo mi k lin nhau. V d, mt khon vay mua xe hi hay mt khon th chp, gi l mt nin kim. Bn nn tham kho thm cc hm sau, c p dng cho nin kim: CUMIPMT(), CUMPRINC(), FV(), FVSCHEDULE(), IPMT(), NPER(), PMT(), PPMT(), PV(), RATE().

Trong cc hm v nin kim k trn, tin mt c chi tr th hin bng s m, tin mt thu nhn c th hin bng s dng. V d, vic gi $1,000 vo ngn hng s th hin bng i s -1000 nu bn l ngi gi tin, v th hin bng s 1000 nu bn l ngn hng. Mt i s trong cc hm ti chnh thng ph thuc vo nhiu i s khc. Nu rate khc 0 th:

Nu rate bng 0 th:

V d:

Gi s bn mun vay tr gp $8,000,000 trong 4 nm, nhn vin ngn hng sau mt hi tnh ton, phn rng mi thng bn phi tr c gc ln li l $200,000. Vy ngn hng tnh li sut hng thng (hoc li sut hng nm) cho bn l bao nhiu ?

Li sut hng thng (d on li sut l 10%/nm): = RATE(4*12, -200000, 8000000) = 1% Li sut hng nm (d on li sut l 10%/nm): = RATE(4*12, -200000, 8000000)*12 = 9.24%

Tnh li sut mi nm cho mt khon vay $1,000 trong 2 nm, mi nm phi tr $100, khi o hn phi tr c gc ln li l $1,200 ?

= RATE(2, -100, 1000, -1200) = 19%

36. Reveiced
Tnh s tin nhn c vo ngy o hn ca mt chng khon u t ton b. C php: = RECEIVED(settlement, maturity, investment, discount, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Nu ngi mua vo ngay ngy pht hnh, th ngy kt ton cng l ngy pht hnh chng khon. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Investment : S tin u t vo chng khon. Discount : T l chit khu ca chng khon (xem hm DISC)

Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh issue, settlement, v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement hay maturity khng l nhng ngy hp l, RECEIVED() s tr v gi tr li #VALUE! Nu investment 0 hay discount 0, RECEIVED() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, RECEIVED() s tr v gi tr li #NUM! Nu settlement maturity, RECEIVED() s tr v gi tr li #NUM! Hm RECEIVED() s tnh ton theo cng thc sau y:

Vi: B : S ngy trong mt nm (ph thuc vo basis). DIM : S ngy tnh t ngy kt ton (hay ngy pht hnh) ti ngy o hn chng khon. V d:

Tnh s tin s nhn c vo ngy o hn ca mt chng khon c ngy kt ton l 15/2/2008, ngy o hn l 15/5/2008, s tin u t l $1,000,000, t l chit khu ca chng khon l 5.75%, vi c s tnh ngy l mt nm 360 ngy, cn s ngy trong mi thng th theo thc t ca thng ?

= RECEIVED(DATE(2008,2,15), DATE(2008,5,15), 1000000, 5.75%, 2) = $1,014,584.654

37. Sln
Tnh khu hao cho mt ti sn theo phng php ng thng (t l khu hao tri u trong sut thi hn s dng ca ti sn) trong mt khong thi gian xc nh. C php: = SLN(cost, salvage, life) Cost : Gi tr ban u ca ti sn Salvage : Gi tr thu hi c ca ti sn (hay l gi tr ca ti sn sau khi khu hao) Life : Hn s dng ca ti sn. SLN() dng cng thc sau y tnh khu hao:

V d:

Tnh khu hao bnh qun mi nm cho mt ti sn c gi tr ban u l $30,000, gi tr cn li sau khi khu hao l $7,500, c thi hn s dng 10 nm ?

= SLN(30000, 7500, 10) = $2,250

38. Syd
Tnh khu hao cho mt ti sn theo gi tr cn li trong mt khong thi gian xc nh. C php: = SYD(cost, salvage, life, per) Cost : Gi tr ban u ca ti sn Salvage : Gi tr thu hi c ca ti sn (hay l gi tr ca ti sn sau khi khu hao) Life : Hn s dng ca ti sn. Per : K tnh khu hao, phi c cng n v tnh vi Life. SYD() dng cng thc sau y tnh khu hao:

V d:

Tnh khu hao ca nm u tin v nm cui cng ca mt ti sn c gi tr ban u l $30,000, gi tr cn li sau khi khu hao l $7,500, c thi hn s dng 10 nm ?

Nm u tin: = SYD(30000, 7500, 10, 1) = $4,090.91 Nm cui cng: = SYD(30000, 7500, 10, 10) = $409.09

39. Tbilleq
Tnh phn trm li nhun tng ng vi tri phiu cho tri phiu kho bc. C php: = TBILLEQ(settlement, maturity, discount) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Discount: T l chit khu ca chng khon (xem hm DISC) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, v maturity s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, TBILLEQ() s tr v gi tr li #VALUE! Nu discount 0, TBILLEQ() s tr v gi tr li #NUM! Nu settlement maturity, hay nu maturity ln hn mt nm sau settlement, TBILLEQ() s tr v gi tr li #NUM! Hm TBILLEQ() s tnh ton theo cng thc sau y:

Vi: DSM : S ngy gia settlement v maturity, c tnh theo c s mt nm c 360 ngy.

V d:

Tnh phn trm li nhun tng ng vi tri phiu cho mt tri phiu kho bc c ngy kt ton l 31/3/2008, ngy o hn l 1/6/2008, v c t l chit khu l 9.14% ?

= TBILLEQ(DATE(2008,3,31), DATE(2008,6,1), 9.14%) = 0.094151 (= 9.42%)

40. Tbillprice
Tnh gi tr da trn ng mnh gi $100 cho mt tri phiu kho bc (da trn t l chit khu, hay t l li nhun ca n) Hm ny l nghch o ca hm TBILLYIELD() C php: = TBILLPRICE(settlement, maturity, discount) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Discount: T l chit khu (t l li nhun) ca tri phiu (xem hm TBILLYIELD) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, v maturity s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, TBILLPRICE() s tr v gi tr li #VALUE! Nu discount 0, TBILLPRICE() s tr v gi tr li #NUM! Nu settlement > maturity, hay nu maturity ln hn mt nm sau settlement (t ngy kt ton n ngy o hn nhiu hn 1 nm), TBILLPRICE() s tr v gi tr li #NUM! Hm TBILLPRICE() s tnh ton theo cng thc sau y:

Vi: DSM : S ngy gia settlement v maturity, nhng khng tnh ngy o hn (maturity date).

V d:

Tnh gi tr da trn ng mnh gi $100 cho mt tri phiu kho bc c ngy kt ton l 31/3/2008, ngy o hn l 1/6/2008, v c t l chit khu l 9% ?

= TBILLPRICE(DATE(2008,3,31), DATE(2008,6,1), 9%) = $98.45

41. Tbillyield
Tnh t l chit khu (t l li nhun) cho mt tri phiu kho bc (da theo gi tr ca ng $100). Hm ny l nghch o ca hm TBILLPRICE() C php: = TBILLYIELD(settlement, maturity, pr ) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Pr : Gi tr da trn ng mnh gi $100 ca tri phiu (xem hm TBILLPRICE) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, v maturity s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, TBILLYIELD() s tr v gi tr li #VALUE! Nu pr 0, TBILLYIELD() s tr v gi tr li #NUM! Nu settlement > maturity, hay nu maturity ln hn mt nm sau settlement (t ngy kt ton n ngy o hn nhiu hn 1 nm), TBILLYIELD() s tr v gi tr li #NUM! Hm TBILLYIELD() s tnh ton theo cng thc sau y:

Vi: DSM : S ngy gia settlement v maturity, nhng khng tnh ngy o hn (maturity date). V d:

Tnh t l li nhun ca mt tri phiu kho bc c ngy kt ton l 31/3/2008, ngy o hn l 1/6/2008, bit gi tr da trn ng mnh gi $100 ca n l $98.45 ?

= TBILLYIELD(DATE(2008,3,31), DATE(2008,6,1), 98.45) = 0.091417 (= 9.1417%)

42. Vdb
Tnh khu hao cho mt ti sn s dng trong nhiu k bng phng php s d gim dn kp (double-declining balance method), hay bng phng php no khc c ch nh. C php: = VDB(cost, salvage, life, start_period, end_period, factor, no_switch) Cost : Gi tr ban u ca ti sn Salvage : Gi tr thu hi c ca ti sn (hay l gi tr ca ti sn sau khi khu hao) Life : S k tnh khu hao (hay cn gi l hn s dng ca ti sn). Start_period : K u tin mun tnh khu hao. Start_period phi s dng cng mt n v tnh ton vi Life. End_period : K cui cng mun tnh khu hao. End_period phi s dng cng mt n v tnh ton vi Life. Factor : T l gim dn s d (nu b qua, mc nh l 2, tc s dng phng php s d gim dn kp). bit thm v phng php s d gim dn kp, xem hm DDB(). No_switch : Mt gi tr logic cho bit c chuyn qua phng php tnh khu hao theo ng thng (straight-line depreciation method) khng, khi khu hao ln hn gim dn s d. Mc nh l FALSE. = TRUE : Excel s khng s dng phng php tnh khu hao theo ng thng, ngay c khi khu hao ln hn gim dn s d. = FALSE : Khi khu hao ln hn gim dn s d, Excel s t ng chuyn sang s dng phng php tnh khu hao theo ng thng. Lu :

Tt c cc tham s (ngoi tr no_switch) phi l nhng s dng.

V d:

Vi mt ti sn c gi tr khi mua vo l $2,400, gi tr thu hi c ca sn phm khi ht hn s dng l $300, hn s dng l 10 nm, v c s dng trong nhiu k, ta c nhng cc tnh khu hao theo tng khong thi gian nh sau:

Khu hao cho ngy u tin, dng phng php s d gim dn kp: = VDB(2400, 300, 10*365, 0, 1) = $1.32 Khu hao thng u tin, dng phng php s d gim dn kp: = VDB(2400, 300, 10*12, 0, 1) = $40 Khu hao nm u tin, dng phng php s d gim dn kp: = VDB(2400, 300, 10, 0, 1) = $480 Khu hao gia thng th 6 v thng th 18, dng phng php s d gim dn kp: = VDB(2400, 300, 10*12, 6, 18) = $396.31 Khu hao gia thng th 6 v thng th 18, dng factor = 1.5 thay cho phng php s d gim dn kp: = VDB(2400, 300, 10*12, 6, 18, 1.5) = $311.81

Qua v d trn ta thy, hm VDB() ch hn hm DDB() ch VBD() tnh c khu hao t mt k no n mt k no (xem li cc v d ca hm DDB). Cn nu tnh khu hao ti mt k (thng th nht, nm th hai, v.v...) th VBD() cho ra kt qu tng t DDB().

43. Xirr
y chnh l hm IRR(): tnh li sut ni hm (hay cn gi l hm tnh t sut lu hnh ni b, hay t sut hon vn ni b) cho mt chui cc lu ng tin mt c th hin bi cc tr s; nhng khc IRR(), XIRR() p dng cho cc lu ng tin mt khng nh k. C php: = XIRR(values, dates, guess) Values : Cc khon chi tr hoc thu nhp trong cc k hn ca khon u t, tng ng vi lch chi tr trong dates. Tin chi tr u tin l ty chn v tng ng vi tin chi tr hoc chi ph u khon u t. Nu tr u tin l chi ph hoc tin chi tr, tr phi l s m. Nhng ln chi tr cn li u c tnh da theo nm c 365 ngy. Dy gi tr phi cha t nht mt tr dng v mt tr m. Dates : Lot ngy chi tr tng ng. Guess : Mt con s % c lng gn vi kt qu ca XIRR(). Nu b qua, th mc nh guess = 10%. - Excel dng chc nng lp trong php tnh XIRR. Bt u vi guess, XIRR lp cho ti khi kt qu chnh xc trong khong 0.00001%. Nu XIRR khng th a ra kt qu sau 100 ln lp, IRR s tr v gi tr li #NUM! - Trong trng hp XIRR tr v gi tr li #NUM!, hy th li vi mt gi tr guess khc. Lu :

Cc s trong dates s c t ng ct b phn l nu c. XIRR() cn t nht mt lu ng tin mt dng v mt lu ng tin mt m, nu khng, XIRR() s tr v gi tr li #NUM! Nu c bt k i s no trong dates khng phi l ngy thng hp l, XIRR() s tr v gi tr li #NUM! Nu c bt k i s no trong dates trc ngy bt u, XIRR() s tr v gi tr li #NUM! Nu s lng values v s lng dates khng tng ng, XIRR() s tr v gi tr li #NUM! XIRR() c quan h mt thit vi XNPV(), kt qu do XIRR() tr v chnh l li sut rate sao cho XNPV() = 0.

V d:

44. Xnpv
Tnh hin gi rng ca mt khon u t bng cch s dng t l chit khu vi cc khon chi tr (hoc thu nhp) khng nh k. Nu mun tnh hin gi rng ca mt khon u t bng cch s dng t l chit khu vi cc khon chi tr (hoc thu nhp) theo nhng k hn u n, dng hm NPV().

C php: = XNPV(rate, values, dates) Rate : T sut chit khu trong sut thi gian sng ca khon u t (sut thi gian thc hin d n chng hn). T sut ny c th th hin t l lm pht hoc li sut u t lm pht. Values : Cc khon chi tr hoc thu nhp trong cc k hn ca khon u t, tng ng vi lch chi tr trong dates. Tin chi tr u tin l ty chn v tng ng vi tin chi tr hoc chi ph u khon u t. Nu tr u tin l chi ph hoc tin chi tr, tr phi l s m. Nhng ln chi tr cn li u c tnh da theo nm c 365 ngy. Dy gi tr phi cha t nht mt tr dng v mt tr m. Dates : Lot ngy chi tr tng ng. Lu :

Cc s trong dates s c t ng ct b phn l nu c. Nu c bt k i s no khng phi l s, XNPV() s tr v gi tr li #VALUE! Nu c bt k i s no trong dates khng phi l ngy thng hp l, XNPV() s tr v gi tr li #NUM! Nu c bt k i s no trong dates trc ngy bt u, XNPV() s tr v gi tr li #NUM! Nu s lng values v s lng dates khng tng ng, XNPV() s tr v gi tr li #NUM! Nu coi n l s lu ng tin mt trong danh sch cc values, th hm XNPV() tnh ton theo cng thc sau y:

V d:

45. Yield
Tnh t l li nhun ca mt chng khon tr li theo nh k. Thng c dng tnh t l li nhun ca tri phiu. C php: = YIELD(settlement, maturity, rate, pr, redemption, frequency, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Rate : Li sut hng nm ca chng khon. Pr : Gi tr da trn ng mnh gi $100 ca chng khon. Redemption : Gi tr (s tin) nhn c ca chng khon khi o hn. Frequency : S ln tr li hng nm. Nu tr mi nm mt ln: frequency = 1; tr mi nm hai ln: frequency = 2; tr mi nm bn ln: frequency = 4. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, frequency v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, YIELD() s tr v gi tr li #VALUE! Nu rate < 0, YIELD() s tr v gi tr li #NUM! Nu pr 0 hoc redemption 0, YIELD() s tr v gi tr li #NUM! Nu frequency khng phi l 1, 2 hay 4, YIELD() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, YIELD() s tr v gi tr li #NUM! Nu settlement maturity, YIELD() s tr v gi tr li #NUM! Hm YIELD() s c tnh theo cng thc sau:

Vi: A : S ngy t ngy bt u k tnh li cho n ngy kt ton. DSM : S ngy t ngy ngy kt ton cho n ngy o hn. E : S ngy trong k tnh li. V d:

Tnh t l li nhun ca mt tri phiu c ngy kt ton l 15/2/2008, ngy o hn l 15/11/2016, c li sut hng nm l 5.75%, gi tr ca tri phiu da trn ng $100 l $95.04287, gi tr nhn c khi o hn l $100, tr li 6 thng 1 ln, vi c s tnh ngy l mt nm 360 ngy, mt thng 30 ngy ?

= YIELD(DATE(2008,2,15), DATE(2016,11,15), 5.75%, 95.04287, 100, 2, 0) = 0.065 (= 6.5%)

46. Yielddisc
Tnh t l li nhun hng nm ca mt chng khon chit khu. C php: = YIELDDISC(settlement, maturity, pr, redemption, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Pr : Gi tr da trn ng mnh gi $100 ca chng khon. Redemption : Gi tr (s tin) nhn c ca chng khon khi o hn. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement v maturity khng l nhng ngy hp l, YIELDDISC() s tr v gi tr li #VALUE! Nu pr 0 hoc redemption 0, YIELDDISC() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, YIELDDISC() s tr v gi tr li #NUM! Nu settlement maturity, YIELDDISC() s tr v gi tr li #NUM!

V d:

Tnh t l li nhun ca mt tri phiu chit khu c ngy kt ton l 16/2/2008, ngy o hn l 1/3/2008, gi tr ca tri phiu da trn ng $100 l $99.795, gi tr nhn

c khi o hn l $100, vi c s tnh ngy l mt nm 360 ngy, cn s ngy trong mi thng th theo thc t ca thng ? = YIELDDISC(DATE(2008,2,16), DATE(2008,3,1), 99.795, 100, 2) = 0.052823 (= 5.28%)

47. Yieldmat
Tnh t l li nhun hng nm ca mt chng khon tr li vo ngy o hn. C php: = YIELDMAT(settlement, maturity, issue, rate, pr, basis) Settlement : Ngy kt ton chng khon, l mt ngy sau ngy pht hnh chng khon, khi chng khon c giao dch vi ngi mua. Maturity : Ngy o hn chng khon, l ngy chng khon ht hiu lc. Issue : Ngy pht hnh chng khon. Rate : Li sut ca chng khon vo ngy pht hnh. Pr : Gi tr da trn ng mnh gi $100 ca chng khon. Basis : L c s dng m ngy (nu b qua, mc nh l 0) = 0 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Bc M) = 1 : S ngy thc t ca mi thng / S ngy thc t ca mi nm = 2 : S ngy thc t ca mi thng / Mt nm c 360 ngy = 3 : S ngy thc t ca mi thng / Mt nm c 365 ngy = 4 : Mt thng c 30 ngy / Mt nm c 360 ngy (theo tiu chun Chu u) Lu :

Nn dng hm DATE(year, month, day) khi nhp cc gi tr ngy thng. Settlement l ngy m chng khon c bn ra, maturity l ngy chng khon ht hn. V d, gi s c mt tri phiu c thi hn 30 nm c pht hnh ngy 1/1/2008, v n c ngi mua vo 6 thng sau. Vy, ngy pht hnh (issue date) tri phiu s l 1/1/2008, Settlement l ngy 1/7/2008, v Maturity l ngy 1/1/2038, 30 nm sau ngy pht hnh. Settlement, maturity, issue, v basis s c ct b phn l nu chng khng phi l s nguyn Nu settlement, maturity hay issue khng l nhng ngy hp l, YIELDMAT() s tr v gi tr li #VALUE! Nu rate 0 hoc pr 0, YIELDMAT() s tr v gi tr li #NUM! Nu basis < 0 hay basis > 4, YIELDMAT() s tr v gi tr li #NUM! Nu settlement maturity, YIELDMAT() s tr v gi tr li #NUM!

V d:

Tnh t l li nhun ca mt tri phiu c tr li vo ngy o hn c ngy pht hnh l 8/11/2007, ngy kt ton l 15/3/2008, ngy o hn l 3/11/2008, li sut khi pht hnh l 6.25% / nm, gi tr ca tri phiu da trn ng $100 l $100.0123, vi c s tnh ngy l mt nm 360 ngy, mt thng c 30 ngy ?

= YIELDMAT(DATE(2008,3,15), DATE(2008,11,3), DATE(2007,11,8), 6.25%, 100.0123) = 0.060954 (= 6.09%)

Hm c s d liu: 1. DAVERAGE 2. Dcount 3. Dcounta 4. Dget 5. Dmax 6. Dmin 7. Droduct 8. Dstdev 9. Dstdevp 10. Dsum 11. Dvar 12. Dvarp