Excel Financial Functions

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

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


Excel Financial Functions List

Investment Value Functions
FV Calculates the future value of an investment with periodic constant payments and a constant interest rate
FVSCHEDULE Calculates the future value of an initial principal, after applying a series of compound interest rates
NPV Calculates the net present value of an investment, based on a supplied discount rate, and a series of future payments and income
PV Calculates the present value of an investment (ie. the total amount that a series of future payments is worth now)
RECEIVED Calculates the amount received at maturity for a fully invested Security
XNPV Calculates the net present value for a schedule of cash flows
Payment Functions
CUMIPMT Calculates the cumulative interest paid between two specified periods
CUMPRINC Calculates the cumulative principal paid on a loan, between two specified periods
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
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
Duration 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
DURATION Calculates the Macauley duration of a security with an assumed par value of $100
MDURATION Calculates the Macauley modified duration for a security with an assumed par value of $100
NPER Returns the number of periods for an investment with periodic constant payments and a constant interest rate
PDURATION Calculates the number of periods required for an investment to reach a specified value (New in Excel 2013)
Yield Functions
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
ODDFYIELD Calculates the yield of a security with an odd first period
ODDLYIELD Calculates the yield of a security with an odd last period
TBILLEQ Calculates the bond-equivalent yield for a treasury bill
TBILLYIELD Calculates the yield for a treasury bill
Internal Rate of Return Functions
IRR Calculates the internal rate of return for a series of 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
XIRR Calculates the internal rate of return for a schedule of cash flows
Asset Depreciation 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
Interest Rate 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
EFFECT Calculates the effective annual interest rate
INTRATE Calculates the interest rate for a fully invested security
NOMINAL Calculates the annual nominal interest rate
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
RRI Calculates an equivalent interest rate for the growth of an investment (New in Excel 2013)
Dollar Conversion
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
Price Functions
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
ODDFPRICE Calculates the price per $100 face value of a security with an odd first period
ODDLPRICE Calculates the price per $100 face value of a security with an odd last period
TBILLPRICE Calculates the price per $100 face value for a treasury bill


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.

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