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fvdisc

Future value of discounted security

Description

example

FutureVal = fvdisc(Settle,Maturity,Price,Discount) finds the amount received at maturity for a fully vested security.

example

FutureVal = fvdisc(___,Basis) specifies options using an optional argument in addition to the input arguments in the previous syntax.

Examples

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This example shows how to find the amount received at maturity for a fully-vested security, using the following data.

Settle = '02/15/2001';
Maturity = '05/15/2001';
Price = 100;
Discount = 0.0575;
Basis = 2;

FutureVal = fvdisc(Settle, Maturity, Price, Discount, Basis)
FutureVal = 101.4420

This example shows how to use datetime inputs to find the amount received at maturity for a fully-vested security, using the following data.

Settle = datetime('02/15/2001','Locale','en_US');
Maturity = datetime('05/15/2001','Locale','en_US');
Price = 100;
Discount = 0.0575;
Basis = 2;

FutureVal = fvdisc(Settle, Maturity, Price, Discount, Basis)
FutureVal = 101.4420

Input Arguments

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Settlement date, specified as a scalar serial date number, date character vector, or datetime.

Data Types: double | char | datetime

Maturity date, specified as a scalar serial date number, date character vector, or datetime.

Data Types: double | char | datetime

Price (present value) of the security, specified as a scalar numeric.

Data Types: double

Bank discount rate of security, specified as a scalar decimal.

Data Types: double

Day-count basis of the instrument, specified as a scalar integer using one of the following values:

  • 0 = actual/actual

  • 1 = 30/360 (SIA)

  • 2 = actual/360

  • 3 = actual/365

  • 4 = 30/360 (PSA)

  • 5 = 30/360 (ISDA)

  • 6 = 30/360 (European)

  • 7 = actual/365 (Japanese)

  • 8 = actual/actual (ICMA)

  • 9 = actual/360 (ICMA)

  • 10 = actual/365 (ICMA)

  • 11 = 30/360E (ICMA)

  • 12 = actual/365 (ISDA)

  • 13 = BUS/252

For more information, see Basis.

Data Types: double

Output Arguments

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Amount received at maturity for a fully vested security, returned as a scalar numeric.

Data Types: double

References

[1] Jan Mayle. Standard Securities Calculation Methods. Securities Industry Assn, Volumes I-II, 3rd edition, 1994

Introduced before R2006a