# TBILLEQ

## Content

This function returns the equivalent yield for a Treasury bill (or T-bill).

## Syntax

`TBILLEQ(settle, mature, discount)`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *settle* | Settlement date for the Treasury bill |
| *mature* | Maturity date for the Treasury bill |
| *discount* | Discount rate for the Treasury bill |

## Remarks

This function returns a #VALUE! error when *settle* or *mature* is invalid. *Settle* and *mature* are truncated to integers.
The function returns an error in the following cases:

* If *discount* is less than or equal to 0, a #NUM! error is returned.
* If *settle* is greater than *mature* or if *mature* is more than one year after *settle*, a #NUM! error is returned. 

This function is calculated as `(365 x rate)/(360-(rate x DSM))`, where DSM is the number of days between *settle* and *mature* computed according to the 360 days per year basis.

## Data Types

Accepts numeric and DateTime object data for all arguments. Returns numeric data.

## Examples

`TBILLEQ(A1,B2,C3)`

`TBILLEQ("3/31/2003","6/1/2003",0.0532)` gives the result 0.054437659 (or 5.44%)