Excel Financial Functions

This page lists the current built-in Excel Financial Functions. These functions perform many of the commonly used financial calculations, such as the calculation of yield, interest rates, investment valuations and asset depreciation.

In the tables below, the financial functions have been grouped into categories, to help you to find the function you need. Selecting a function name will take you to a full description of the function with examples of use and details of common errors.

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


Excel Financial Functions List

Investment Value Functions
FVCalculates the future value of an investment with periodic constant payments and a constant interest rate
FVSCHEDULECalculates the future value of an initial principal, after applying a series of compound interest rates
NPVCalculates the net present value of an investment, based on a supplied discount rate, and a series of future payments and income
PVCalculates the present value of an investment (ie. the total amount that a series of future payments is worth now)
RECEIVEDCalculates the amount received at maturity for a fully invested Security
XNPVCalculates the net present value for a schedule of cash flows
Price Functions
DISCCalculates the discount rate for a security
PRICECalculates the price per $100 face value of a security that pays periodic interest
PRICEDISCCalculates the price per $100 face value of a discounted security
PRICEMATCalculates the price per $100 face value of a security that pays interest at maturity
ODDFPRICECalculates the price per $100 face value of a security with an odd first period
ODDLPRICECalculates the price per $100 face value of a security with an odd last period
TBILLPRICECalculates the price per $100 face value for a treasury bill
Internal Rate of Return Functions
IRRCalculates the internal rate of return for a series of cash flows
MIRRCalculates 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
XIRRCalculates the internal rate of return for a schedule of cash flows
Asset Depreciation Functions
AMORDEGRCCalculates the prorated linear depreciation of an asset for each accounting period (with depreciation coefficient applied, depending on the life of the asset)
AMORLINCCalculates the prorated linear depreciation of an asset for each accounting period
DBCalculates the depreciation of an asset for a specified period, using the fixed-declining balance method
DDBCalculates the depreciation of an asset for a specified period, using the double-declining balance method, or some other user-specified method
SLNReturns the straight-line depreciation of an asset for one period
SYDReturns the sum-of-years' digits depreciation of an asset for a specified period
VDBReturns 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
DOLLARDEConverts a dollar price expressed as a fraction, into a dollar price expressed as a decimal
DOLLARFRConverts a dollar price expressed as a decimal, into a dollar price expressed as a fraction
Payment Functions
CUMIPMTCalculates the cumulative interest paid between two specified periods
CUMPRINCCalculates the cumulative principal paid on a loan, between two specified periods
IPMTCalculates the interest payment for a given period of an investment, with periodic constant payments and a constant interest rate
ISPMTReturns the interest paid during a specified period of an investment
PMTCalculates the payments required to reduce a loan, from a supplied present value to a specified future value
PPMTCalculates the payment on the principal for a given investment, with periodic constant payments and a constant interest rate
Interest Rate Functions
ACCRINTCalculates the accrued interest for a security that pays periodic interest
ACCRINTMCalculates the accrued interest for a security that pays interest at maturity
EFFECTCalculates the effective annual interest rate
INTRATECalculates the interest rate for a fully invested security
NOMINALCalculates the annual nominal interest rate
RATECalculates 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
RRICalculates an equivalent interest rate for the growth of an investment (New in Excel 2013)
Yield Functions
YIELDCalculates the yield of a security that pays periodic interest
YIELDDISCCalculates the annual yield of a discounted security
YIELDMATCalculates the annual yield of a security that pays interest at maturity
ODDFYIELDCalculates the yield of a security with an odd first period
ODDLYIELDCalculates the yield of a security with an odd last period
TBILLEQCalculates the bond-equivalent yield for a treasury bill
TBILLYIELDCalculates the yield for a treasury bill
Duration Functions
COUPDAYBSCalculates the number of days from the beginning of the coupon period to the settlement date
COUPDAYSCalculates the number of days in the coupon period that contains the settlement date
COUPDAYSNCCalculates the number of days from the settlement date to the next coupon date
COUPNCDReturns the next coupon date after the settlement date
COUPNUMReturns the number of coupons payable between the settlement date and maturity date
COUPPCDReturns the previous coupon date, before the settlement date
DURATIONCalculates the Macauley duration of a security with an assumed par value of $100
MDURATIONCalculates the Macauley modified duration for a security with an assumed par value of $100
NPERReturns the number of periods for an investment with periodic constant payments and a constant interest rate
PDURATIONCalculates the number of periods required for an investment to reach a specified value (New in Excel 2013)

Further details of the Excel Financial functions are provided on the Microsoft Office website. Also, there is and excellent article showing practical examples of the NPV and IRR functions.