The price formula used for Level Yield is different from the one used for “Normal Yield”. The difference being, that the level yield price does not have a term to subtract accrued interest at purchase.
Go to spreadsheet. “Amortization-Interest-Yield” A separate spreadsheet should be used for each security. The cells in blue on the Price Calculation tab are filled in for the particular security. The information from the Price Calculation tab carries to the following tabs.
In order to use the Amortization- Interest-Yield spreadsheet the Analysis ToolPak must be installed on your computer’s Excel.
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