The Excel Price function calculates the price, per $100 face value of a security that pays periodic interest.
The syntax of the function is :
Where the arguments are as follows:
settlement    The settlement date of the security (ie. the date that the coupon is purchased)  
maturity    The maturity date of the security (ie. the date that the coupon expires)  
rate    The security's annual coupon rate  
yld    The annual yield of the security  
redemption    The security's redemption value per $100 face value  
frequency   
The number of coupon payments per year. This must be one of the following:


[basis]   
An optional integer argument which specifies the financial day count basis that is used by the security.
Possible values are:

Note that the date arguments should be entered into the function as either:
Warning:
  If you attempt to input the date arguments as text, there is a chance that these may be interpreted differently, due to the date system and date interpretation settings on your computer. 
  Although you can enter dates as serial numbers, this is not recommended, as date serial numbering varies across different computer systems. 
In the following example, the Excel Price function is used to calculate the price per $100 face value of a coupon purchased on 01Apr2012, with maturity date 31Mar2020 and a rate of 12%. The yield is 10% and the redemption value is $100. Payments are made semiannually and the US (NASD) 30/360 day count basis is used:
A  B  

1  Settlement Date:  01Apr2012 
2  Maturity Date:  31Mar2020 
3  =PRICE( B1, B2, 12%, 10%, 100, 2 ) 
The function calculates the Price per $100 face value to be $110.83.
 i.e. a bond with the above terms would be valued at $110.83
Note that, in the above example:
Further examples of the Excel Price function can be found on the Microsoft Office website.
If you get an error from the Price function, this is likely to be one of the following:
#NUM!   
Occurs if either:


#VALUE!   
Occurs if either:


#NAME?   
Occurs when Analysis ToolPak addin is not enabled in your Excel. + Show How to Do This in Excel 2003: 