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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
depreciation.
The tables below list all the current builtin 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
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)


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


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


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


TBILLEQ

Calculates the bondequivalent 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



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


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


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


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


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