Evaluates the amount one receives when a fully invested security reaches the maturity date.

settlement—The date on which payment is made to settle a trade. For a more detailed discussion on dates see Chapter 8, Working with Date/Time Data in the PV‑WAVE User’s Guide.

maturity—The date on which the bond comes due, and principal and accrued interest are paid. For a more detailed discussion on dates see Chapter 8, Working with Date/Time Data in the PV‑WAVE User’s Guide.

investment—The total amount one has invested in the security.

discount_rate—The interest rate implied when a security is sold for less than its value at maturity in lieu of interest payments.

basis—The method for computing the number of days between two dates. It should be 0, 1, 2, 3, or 4.

result—The amount one receives when a fully invested security reaches its maturity date. If no result can be computed, NaN is returned.

Double—If present and nonzero, double precision is used.

Function MATURITY_REC computes the amount received at maturity for a fully invested security.

It is computed using the following:

In the equation above, B represents the number of days in a year based on the annual basis, and DIM represents the number of days in the period starting with the issue date and ending with the maturity date.

In this example, MATURITY_REC computes the amount received of a $7,000 investment with the settlement date of July 1, 1995, maturity date of July 1, 2005 and discount rate of 6%, using the Actual/365 day count method.

settlement = VAR_TO_DT(1995, 7, 1)

maturity = VAR_TO_DT(2005, 7, 1)

investment = 7000.

discount = .06

basis = 3

PRINT, MATURITY_REC(settlement, maturity, investment, $ 

   discount, basis)

; PV-WAVE prints: 17521.6