Thursday, 4 May 2017

Excel - Microsoft Excel Mduration Function

Description

The Excel Mduration function calculates the modified Macaulay Duration of a security that pays periodic interest, assuming a par value of $100. 

The syntax of the function is : 

MDURATION( settlement, maturity, coupon, yld, frequency, [basis] ) 


Where the arguments are as follows: 



The following spreadsheet uses the Excel Mduration function to calculate the modified Macaulay Duration of a security that with a settlement date 01-Apr-2010, a maturity date 31-Mar-2020 and a yield of 8%. The coupon rate is 10% and payments are made quarterly. 



Mduration Function Errors
If you get an error from the Mduration function, this is likely to be one of the following: 

Common Errors 





























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