I have not used the Yield Function in Excel, but with regular Time Value of
Money Calculations you can just increase the number of periods as years * 12
(months) and decrease the interest rate by Interest / 12 (months). This
should change to 12 compounding periods per year.

HTH

"mike allen" wrote:

I wish to calculate yields using monthly compounding. Excel spreadsheet has
a 'yield' function that allows 1, 2, or 4 compound periods per year (I need
12). I have a custom function written by a friend that calculates yield,
but it too, does not calculate monthly compounding. In fact, it is only
accurate semi-annually and is inaccurate outside of that.

My question is: can I get monthly compounding for the 'yield' or 'price'
function on excel (not necessarily in code), like an add-in?
Or better yet, is there code available (preferably free) that will calculate
yield and price w/ more than 1, 2, and 4 compounding periods? Thank you,
Mike Allen