PRICEMAT
ThePRICEMAT
function calculates the price per $100 face value of a security that pays interest at maturity. It is most commonly used in financial analysis to determine the value of a security. The function takes into account the settlement date, maturity date, issue date, annual coupon rate, yield, and day count convention.
 How to use
PRICEMAT
formula?  Examples of using
PRICEMAT
formula PRICEMAT
formula not working? Similar formulas to
PRICEMAT
Usage
Use the PRICEMAT
formula with the syntax shown below, it has 5 required parameters and 1 optional parameter:
 settlement (required):
The settlement date of the security. Must be a valid date.  maturity (required):
The maturity date of the security. Must be a valid date.  issue (required):
The issue date of the security. Must be a valid date.  rate (required):
The annual coupon rate of the security.  yield (required):
The yield of the security.  day_count_convention (optional):
Optional. The day count convention to use. If omitted, the default value is 0.
Examples
Here are a few example use cases that explain how to use thePRICEMAT
formula in Google Sheets.
Calculating the price of a security
Suppose you have a security with a settlement date of 1/1/2022, a maturity date of 1/1/2024, an issue date of 1/1/2021, an annual coupon rate of 5%, and a yield of 6%. You can use PRICEMAT
to calculate the price of the security as follows: =PRICEMAT("1/1/2022","1/1/2024","1/1/2021",0.05,0.06)
.
Comparing the value of securities
Suppose you have two securities with different settlement dates, maturity dates, issue dates, coupon rates, and yields. You can use PRICEMAT
to compare the values of the securities to determine which one is more valuable.
Analyzing the impact of changes in yield
Suppose you want to analyze how changes in yield affect the value of a security. You can use PRICEMAT
to calculate the value of the security for different yields and create a graph to see how the value changes as the yield changes.
Common Mistakes
PRICEMAT
not working? Here are some common mistakes people make when using the PRICEMAT
Google Sheets Formula:
Incorrect date format
One common mistake when using the PRICEMAT
function is to enter the date in the wrong format. The function requires that the date be entered as a valid date, in the format YYYYMMDD. If the date is entered in any other format, the function will return an error.
Incorrect parameter order
Another common mistake when using the PRICEMAT
function is to enter the parameters in the wrong order. The function requires that the parameters be entered in the correct order, as specified in the syntax. If the parameters are entered in the wrong order, the function will return an error.
Invalid yield value
A third common mistake when using the PRICEMAT
function is to enter an invalid yield value. The yield value must be greater than or equal to zero and less than or equal to the coupon rate. If an invalid yield value is entered, the function will return an error.
Related Formulas
The following functions are similar to PRICEMAT
or are often used with it in a formula:

PRICE
The
PRICE
function calculates the price per $100 face value of a security that pays periodic interest. It is commonly used to determine the current value of a bond. The function takes the settlement date, maturity date, annual coupon rate, yield, redemption value, and frequency of coupon payments as input. It returns the price of the security, which is the sum of the present value of the coupon payments and the present value of the redemption value. 
PRICEDISC
The
PRICEDISC
function in Google Sheets is a financial function that calculates the price per $100 face value of a discounted security based on its discount rate. The function assumes that the security is sold on its maturity date and that interest is calculated on a 360day year. The function can be used to determine the price of a US Treasury bill, commercial paper, or other moneymarket instrument. 
ACCRINT
The
ACCRINT
function calculates the accrued interest of a security that pays periodic interest. It is commonly used in financial analysis to determine the amount of interest earned but not yet paid on a security. The function takes into account the issue date, first payment date, settlement date, rate, redemption value, and frequency of interest payments. The result is the accrued interest at the settlement date. 
YIELD
The YIELD function calculates the yield of a security that pays periodic interest. The yield is the annualized percentage rate returned on the bond, assuming the bond is held until maturity. This function is commonly used in finance and investment analysis.
Learn More
You can learn more about the PRICEMAT
Google Sheets function on Google Support.