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

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 

DISC  Calculates the discount rate for a security  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 

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 

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 fixeddeclining balance method  DDB  Calculates the depreciation of an asset for a specified period, using the doubledeclining balance method, or some other userspecified method  SLN  Returns the straightline depreciation of an asset for one period  SYD  Returns the sumofyears' 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 doubledeclining balance method or another userspecified method 

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 
 
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 

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  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) 

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 bondequivalent yield for a treasury bill  TBILLYIELD  Calculates the yield for a treasury bill 

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) 

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