RECEIVED Function
Calculates the amount received at maturity for a fully invested security.
Syntax
Parameters
| Parameter | Description | Required |
|---|---|---|
| settlement | Date the security is purchased. | Required |
| maturity | Date the security expires. | Required |
| investment | Amount invested in the security. | Required |
| discount | Discount rate of the security. | Required |
| basis | Day-count convention (0 = US 30/360, default). | Optional |
Basic Example
Maturity value of a discounted investment
=RECEIVED(DATE(2024,1,1), DATE(2024,12,31), 95000, 0.05)Investing $95,000 at a 5% discount rate for one year results in a $100,000 maturity value.
Advanced Examples
Example 1: With actual/360 basis
Money marketUse basis 2 for actual/360
=RECEIVED(DATE(2024,1,1), DATE(2024,12,31), 95000, 0.05, 2)How RECEIVED Works
RECEIVED calculates the maturity value by dividing the investment amount by (1 - discount * days to maturity / days per year). It is used for fully invested discount instruments.
Important Notes & Limitations
Settlement must be before maturity.
Investment is the actual amount invested, not per $100.
Basis affects the day count and year length.
Common Errors & Fixes
#NUM! errorInvalid dates, investment, or discount.Fix: Verify all inputs.
#VALUE! errorDates are not recognized.Fix: Use DATE function or valid date serial numbers.
Download Practice File
RECEIVED
receivedPractice RECEIVED with Real Data
Download a sample CSV file with pre-populated data and practice exercises for the RECEIVED function. Works in both Excel and Google Sheets.
File format: CSV (comma-separated values) - opens in Excel, Google Sheets, and all spreadsheet apps