DISC

Definition: DISC is a function that returns the discount rate for a security.

Syntax: =DISC(settlement, maturity, pr, redemption, [basis])

Situation: This formula is suitable when you need to find the discount rate for a security.

Example: If you have a security with a settlement date of January 1, 2021, a maturity date of December 31, 2021, a price of $950, a redemption value of $1000, and a basis of actual/360, the discount rate can be found using the formula =DISC(“1/1/2021”, “12/31/2021”, 950, 1000, 3).