TBILLEQ

Definition: The TBILLEQ function in Excel is used to calculate the bond-equivalent yield for a US Treasury bill.

Syntax: ==TBILLEQ(settlement, maturity, discount).

Situation: This formula is appropriate in situations where you need to calculate the bond-equivalent yield for a US Treasury bill.

Example: If the settlement date is January 1, 2020, the maturity date is June 30, 2020, and the discount rate is 0.5%, you would use the formula =TBILLEQ(“1/1/2020”, “6/30/2020”, 0.5%). This would return a value that indicates the bond-equivalent yield.