"Vacuum Sealed" wrote:
Purchase Date = K20 = 4/9/2012
Maturity = L20 = 11/1/2017
Coupon = M20 = 8.63%
Percent of Par at Purchase = N20 = 94%
Par Value = D20 = $1000
Pays Bi Annually
Using the YIELD function I enter:
=YIELD(K20,L20,M20,N20*D20,D20,2)
This is giving back 2.01% which looks wrong.
[....]
using your structure & equation I got this answer: 2.32%

I suspect you interpreted 4/9/2012 and 11/1/2017 as in the form d/m/yyyy
instead of m/d/yyyy. (Not your fault.)

Note that =YIELD(DATE(2012,9,4),DATE(2017,1,11),8.63%,940,10 00,2,0) is about
2.32%, whereas =YIELD(DATE(2012,4,9),DATE(2017,11,1),8.63%,940,10 00,2,0) is
indeed about 2.01%.

In either case, you are both misusing the YIELD parameters. See my response
to "W".