Excel Financial Functions

This page lists the built-in Excel Financial Functions. These functions perform many of the common financial calculations, such as the calculation of yield, interest rates, duration, valuation and depreciation.

The tables below list all the current built-in Excel Financial functions, grouped by category. Selecting a function name will take you to a full description of the function with examples of use and advice on common errors.

Note that some of the functions were first introduced in Excel 2013 and so are not available in earlier versions of Excel.

Excel Financial Functions List

Single Cash Flow Functions
FVSCHEDULE	Calculates the future value of an initial principal, after applying a series of compound interest rates
PDURATION	Calculates the number of periods required for an investment to reach a specified value (New in Excel 2013)
RRI	Calculates the interest rate required for an investment to grow to a specified future value (New in Excel 2013)

Interest Rate Conversion Functions
EFFECT	Calculates the effective annual interest rate from a supplied Nominal interest rate and number of periods
NOMINAL	Calculates the annual nominal interest rate from a supplied Effective interest rate and number of periods

Security Functions
ACCRINT	Calculates the accrued interest for a security that pays periodic interest
ACCRINTM	Calculates the accrued interest for a security that pays interest at maturity
DISC	Calculates the discount rate for a security
DURATION	Calculates the Macauley duration of a security with an assumed par value of $100
INTRATE	Calculates the interest rate for a fully invested security
MDURATION	Calculates the Macauley modified duration for a security with an assumed par value of $100
ODDFPRICE	Calculates the price per $100 face value of a security with an odd first period
ODDFYIELD	Calculates the yield of a security with an odd first period
ODDLPRICE	Calculates the price per $100 face value of a security with an odd last period
ODDLYIELD	Calculates the yield of a security with an odd last period
PRICE	Calculates the price per $100 face value of a security that pays periodic interest
PRICEDISC	Calculates the price per $100 face value of a discounted security
PRICEMAT	Calculates the price per $100 face value of a security that pays interest at maturity
RECEIVED	Calculates the amount received at maturity for a fully invested Security
YIELD	Calculates the yield of a security that pays periodic interest
YIELDDISC	Calculates the annual yield of a discounted security
YIELDMAT	Calculates the annual yield of a security that pays interest at maturity

Coupon Date Functions
COUPDAYBS	Calculates the number of days from the beginning of the coupon period to the settlement date
COUPDAYS	Calculates the number of days in the coupon period that contains the settlement date
COUPDAYSNC	Calculates the number of days from the settlement date to the next coupon date
COUPNCD	Returns the next coupon date after the settlement date
COUPNUM	Returns the number of coupons payable between the settlement date and maturity date
COUPPCD	Returns the previous coupon date, before the settlement date

Treasury Bill Functions
TBILLEQ	Calculates the bond-equivalent yield for a treasury bill
TBILLPRICE	Calculates the price per $100 face value for a treasury bill
TBILLYIELD	Calculates the yield for a treasury bill

Functions for a Series of Periodic Constant Cash Flows
CUMIPMT	Calculates the cumulative interest paid between two specified periods
CUMPRINC	Calculates the cumulative principal paid on a loan, between two specified periods
FV	Calculates the future value of an investment with periodic constant payments and a constant interest rate
IPMT	Calculates the interest payment for a given period of an investment, with periodic constant payments and a constant interest rate
ISPMT	Returns the interest paid during a specified period of an investment
NPER	Returns the number of periods for an investment with periodic constant payments and a constant interest rate
PMT	Calculates the payments required to reduce a loan, from a supplied present value to a specified future value
PPMT	Calculates the payment on the principal for a given investment, with periodic constant payments and a constant interest rate
PV	Calculates the present value of an investment (i.e. the total amount that a series of future periodic constant payments is worth now)
RATE	Calculates the interest rate required to pay off a specified amount of a loan, or reach a target amount on an investment over a given period

Functions for a Series of Periodic Variable Cash Flows
IRR	Calculates the internal rate of return for a series of periodic cash flows
MIRR	Calculates the internal rate of return for a series of periodic cash flows, considering the cost of the investment and the interest on the reinvestment of cash
NPV	Calculates the net present value of an investment, based on a supplied discount rate, and a series of periodic cash flows

Functions for a Series of Non-Periodic Variable Cash Flows
XIRR	Calculates the internal rate of return for a schedule of cash flows occurring at a series of supplied dates
XNPV	Calculates the net present value for a schedule of cash flows occurring at a series of supplied dates

Depreciation and Amortization Functions
AMORDEGRC	Calculates the prorated linear depreciation of an asset for each accounting period (with depreciation coefficient applied, depending on the life of the asset)
AMORLINC	Calculates the prorated linear depreciation of an asset for each accounting period
DB	Calculates the depreciation of an asset for a specified period, using the fixed-declining balance method
DDB	Calculates the depreciation of an asset for a specified period, using the double-declining balance method, or some other user-specified method
SLN	Returns the straight-line depreciation of an asset for one period
SYD	Returns the sum-of-years' digits depreciation of an asset for a specified period
VDB	Returns the depreciation of an asset for a specified period, (including partial periods), using the double-declining balance method or another user-specified method

Dollar Conversion Functions
DOLLARDE	Converts a dollar price expressed as a fraction, into a dollar price expressed as a decimal
DOLLARFR	Converts a dollar price expressed as a decimal, into a dollar price expressed as a fraction

See the Microsoft Office website for an excellent article showing practical examples of the NPV and IRR functions.

Related Excel Templates:

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