Excel Financial Functions

This page lists the built-in Excel Financial Functions. These functions perform many of the common financial calculations, such as the calculation of yield, interest rates, duration, valuation and asset depreciation.

In the tables below, the financial functions have been grouped into categories, to help you to find the function you need. Selecting a function name will take you to a full description of the function with examples of use and advice on common errors.

Note that some of the functions were first introduced in Excel 2013 and so are not available in earlier versions of Excel.

Excel Financial Functions List

Investment Value Functions FV Calculates the future value of an investment with periodic constant payments and a constant interest rate FVSCHEDULE Calculates the future value of an initial principal, after applying a series of compound interest rates NPV Calculates the net present value of an investment, based on a supplied discount rate, and a series of future payments and income PV Calculates the present value of an investment (ie. the total amount that a series of future payments is worth now) RECEIVED Calculates the amount received at maturity for a fully invested Security XNPV Calculates the net present value for a schedule of cash flows Price Functions DISC Calculates the discount rate for a security PRICE Calculates the price per $100 face value of a security that pays periodic interest PRICEDISC Calculates the price per $100 face value of a discounted security PRICEMAT Calculates the price per $100 face value of a security that pays interest at maturity ODDFPRICE Calculates the price per $100 face value of a security with an odd first period ODDLPRICE Calculates the price per $100 face value of a security with an odd last period TBILLPRICE Calculates the price per $100 face value for a treasury bill Internal Rate of Return Functions IRR Calculates the internal rate of return for a series of cash flows MIRR Calculates the internal rate of return for a series of periodic cash flows, considering the cost of the investment and the interest on the reinvestment of cash XIRR Calculates the internal rate of return for a schedule of cash flows Asset Depreciation Functions AMORDEGRC Calculates the prorated linear depreciation of an asset for each accounting period (with depreciation coefficient applied, depending on the life of the asset) AMORLINC Calculates the prorated linear depreciation of an asset for each accounting period DB Calculates the depreciation of an asset for a specified period, using the fixed-declining balance method DDB Calculates the depreciation of an asset for a specified period, using the double-declining balance method, or some other user-specified method SLN Returns the straight-line depreciation of an asset for one period SYD Returns the sum-of-years' digits depreciation of an asset for a specified period VDB Returns the depreciation of an asset for a specified period, (including partial periods), using the double-declining balance method or another user-specified method Dollar Conversion DOLLARDE Converts a dollar price expressed as a fraction, into a dollar price expressed as a decimal DOLLARFR Converts a dollar price expressed as a decimal, into a dollar price expressed as a fraction

Payment Functions CUMIPMT Calculates the cumulative interest paid between two specified periods CUMPRINC Calculates the cumulative principal paid on a loan, between two specified periods IPMT Calculates the interest payment for a given period of an investment, with periodic constant payments and a constant interest rate ISPMT Returns the interest paid during a specified period of an investment PMT Calculates the payments required to reduce a loan, from a supplied present value to a specified future value PPMT Calculates the payment on the principal for a given investment, with periodic constant payments and a constant interest rate Interest Rate Functions ACCRINT Calculates the accrued interest for a security that pays periodic interest ACCRINTM Calculates the accrued interest for a security that pays interest at maturity EFFECT Calculates the effective annual interest rate INTRATE Calculates the interest rate for a fully invested security NOMINAL Calculates the annual nominal interest rate RATE Calculates the interest rate required to pay off a specified amount of a loan, or reach a target amount on an investment over a given period RRI Calculates an equivalent interest rate for the growth of an investment (New in Excel 2013) Yield Functions YIELD Calculates the yield of a security that pays periodic interest YIELDDISC Calculates the annual yield of a discounted security YIELDMAT Calculates the annual yield of a security that pays interest at maturity ODDFYIELD Calculates the yield of a security with an odd first period ODDLYIELD Calculates the yield of a security with an odd last period TBILLEQ Calculates the bond-equivalent yield for a treasury bill TBILLYIELD Calculates the yield for a treasury bill Duration Functions COUPDAYBS Calculates the number of days from the beginning of the coupon period to the settlement date COUPDAYS Calculates the number of days in the coupon period that contains the settlement date COUPDAYSNC Calculates the number of days from the settlement date to the next coupon date COUPNCD Returns the next coupon date after the settlement date COUPNUM Returns the number of coupons payable between the settlement date and maturity date COUPPCD Returns the previous coupon date, before the settlement date DURATION Calculates the Macauley duration of a security with an assumed par value of $100 MDURATION Calculates the Macauley modified duration for a security with an assumed par value of $100 NPER Returns the number of periods for an investment with periodic constant payments and a constant interest rate PDURATION Calculates the number of periods required for an investment to reach a specified value (New in Excel 2013)