# TBILLPRICE

The `TBILLPRICE` formula calculates the price per \$100 face value of a US Treasury bill. This formula is most commonly used by investors to determine the fair value of a Treasury bill before buying or selling it on the secondary market.

## Usage

Use the `TBILLPRICE` formula with the syntax shown below, it has 3 required parameters:

Parameters:
1. settlement (required):
The date on which the Treasury bill is purchased.
2. maturity (required):
The date on which the Treasury bill matures.
3. discount (required):
The discount rate of the Treasury bill.

## Examples

Here are a few example use cases that explain how to use the `TBILLPRICE` formula in Google Sheets.

### Determining the price of a Treasury bill

Investors can use the `TBILLPRICE` formula to calculate the price of a Treasury bill before buying or selling it on the secondary market.

### Calculating the yield of a Treasury bill

By using the `TBILLPRICE` formula in conjunction with the `TBILLYIELD` formula, investors can calculate the yield of a Treasury bill.

### Comparing Treasury bills of different maturities

Investors can use the `TBILLPRICE` formula to compare the fair values of Treasury bills with different maturities to determine which one offers the best value.

## Common Mistakes

`TBILLPRICE` not working? Here are some common mistakes people make when using the `TBILLPRICE` Google Sheets Formula:

### Using incorrect date formats

Make sure to use the correct date format for the `settlement` and `maturity` parameters. Dates should be entered as either a serial number or a date enclosed in quotation marks.

### Using incorrect discount rate

Make sure to use the correct discount rate for the Treasury bill being analyzed. The discount rate should be entered as a decimal, not a percentage.

The following functions are similar to `TBILLPRICE` or are often used with it in a formula:

• `TBILLYIELD`

The `TBILLYIELD` function calculates the yield of a Treasury bill based on its price. It returns the annual yield of a Treasury bill (a type of short-term government security), based on its price, maturity, and settlement dates. This function is commonly used in financial analysis to compare the yield of Treasury bills with other types of investments.

• `TREND`

The `TREND` formula is used to calculate future values based on historical data. It fits a straight line (using the method of least squares) to the arrays specified in the `known_data_y` and `known_data_x` parameters and then uses that line to calculate new y-values for the array specified in the `new_data_x` parameter. If `b` is set to TRUE, then the calculation will include the y-intercept of the line. This formula is commonly used in forecasting and trend analysis.

• `PV`

The `PV` function in Google Sheets calculates the present value of a regular payment stream or a lump sum amount, based on a constant interest rate. It is commonly used in financial analysis to determine the value of investments or loans. This function returns a negative value, as it represents money flowing out from the user.

• `FV`

The `FV` function calculates the future value of an investment based on periodic constant payments and a constant interest rate. It takes into account the present value of the investment, the number of periods in which the payments are made, and the compounding frequency. This formula is commonly used in financial planning and investment analysis.

You can learn more about the `TBILLPRICE` Google Sheets function on Google Support.