with these inputs, the YIELD function returns 0.08 which, or 8.00% when formatted with the percentage number format.

### Entering dates

In Excel, dates are serial numbers. Generally, the best way to enter valid dates is to use cell references, as shown in the example. If you want to enter valid dates directly inside a function, the DATE function is the best approach.

### Basis

The basis argument controls how days are counted. The PRICE function allows 5 options (0-4) and defaults to zero, which specifies US 30/360 basis. This article on Wikipedia provides a detailed explanation of available conventions.

### Notes

In Excel, dates are serial numbers. Settlement, maturity, frequency, and basis are truncated to integers If settlement or maturity dates are not valid, YIELD returns #VALUE! YIELD returns #NUM! if any of the following are true: rate < 0 frequency is not 1,2, or 4 pr or redemption are <= 0 settlement >= maturity Basis is not 0-4

### Dave Bruns

Hi - I’m Dave Bruns, and I run Exceljet with my wife, Lisa. Our goal is to help you work faster in Excel. We create short videos, and clear examples of formulas, functions, pivot tables, conditional formatting, and charts.