DISC in WPS Spreadsheet: Annualized Discount Rate from Price and Redemption

=DISC(settlement,maturity,pr,redemption,[basis])

settlement is the purchase settlement date and maturity the final date. pr is the security’s price per 100 face value; redemption is the redemption amount per 100 face value. basis is the optional day-count convention. The result is an annualized discount rate using redemption as the price-difference denominator. It is not a cash amount.

In B2 use =DISC(A2,A3,A4,A5,A6) and apply percentage formatting. The elapsed time is 181 days. The official formula illustration gives (redemption-pr)/redemption * B/DSM. With B=365 and DSM=181, the independent result is (100-97)/100*365/181 = 0.0604972375690608.

Do not enter 9,700 as pr while leaving redemption at 100. Both inputs must use the same per-100 scale. They are positive quoted amounts, not opposite-signed payments.

With basis 2 instead, =DISC(A2,A3,A4,A5,2) has expected result 0.0596685082873, or 5.96685082873%. Both examples use the same 181 actual days; only the annual denominator changes from 365 to 360.

For clarity, a separate arithmetic calculation (100-97)/97 measures the holding-period increase relative to purchase price, about 3.09278350515%. DISC instead starts with (100-97)/100=3% and annualizes it. These are different denominators and time scales; do not label the two numbers interchangeably. This arithmetic comparison is not a claim that DISC calculates a coupon-bond yield.

The lesson documents #VALUE! for invalid settlement or maturity dates; #NUM! for nonpositive pr or redemption, basis outside 0–4, or settlement on/after maturity. Dates and basis are truncated to integers according to the source. Use integer basis values and date-only inputs rather than depending on coercion.

A decimal result such as 0.060497 is normal; percentage formatting displays it as roughly 6.05%. Multiplying the stored result by 100 and then applying percentage formatting would scale it twice. For a mismatch, first check date order, actual elapsed days, per-100 prices, and basis. The guide avoids the source’s long-dated example, whose printed result is not needed to establish these independently checked controls.

Enter dates with DATE(year,month,day) or references to genuine date cells, rather than locale-dependent text. Use the same currency throughout; these functions do not convert currencies.

The official basis table lists 0 (or omitted) as US NASD 30/360, 1 as actual/actual, 2 as actual/360, 3 as actual/365, and 4 as European 30/360. The examples specify basis explicitly. The names alone do not define every February, month-end or multi-year adjustment; this guide does not generalize its controls to those edge cases.

The official WPS Academy DISC lesson labels its applicable edition WPS Office For Windows Personal (个人版). The lesson and relevant formula/table illustrations were reviewed on October 19, 2026. This establishes a Chinese first-party documented scope, not English-global, Linux, macOS, mobile or all-edition availability. The numeric build, introduction release and last supported version are not established. The lesson does not identify the function as deprecated.

Examples above are independent mathematical expectations under the stated assumptions. They were not executed in WPS, and no current application screenshot or runtime precision guarantee is supplied. Documentation images establish the written contract, not a new native test. English function tokens and comma separators follow the source; verify localized entry and workbook interchange in the intended client.

• DATE: Construct unambiguous date inputs.
• DAYS: Count elapsed calendar days.