# YIELDP Function

Returns the yield-to-maturity for a periodic cash flow stream, such as a bond.

 Category: Financial

## Syntax

YIELDP(A,c,n,K,k0,p)

### Required Arguments

#### A

specifies the face value.

 Range $equation$

#### c

specifies the nominal annual coupon rate, expressed as a fraction.

 Range $equation$

#### n

specifies the number of coupons per year.

 Range $equation$ and is an integer

#### K

specifies the number of remaining coupons from settlement date to maturity.

 Range $equation$ and is an integer

#### k0

specifies the time from settlement date to the next coupon as a fraction of the annual basis.

 Range $equation$

#### p

specifies the price with accrued interest.

 Range $equation$

## Details

The YIELDP function is based on the following relationship:
$equation$
The following relationships apply to the preceding equation:
• $equation$
• $equation$
• $equation$
The YIELDP function solves for y.

## Example

In the following example, the YIELDP function returns the yield-to-maturity of a bond that has a face value of 1000, an annual coupon rate of 0.01, 4 coupons per year, and 14 remaining coupons. The time from settlement date to next coupon date is 0.165, and the price with accrued interest is 800.
```data _null_;
y=yieldp(1000,.01,4,14,.165,800);
put y;
run;  ```
The value returned is 0.0775031248.