DISC calculates and returns the discount rate for a sequrity. @settlement is the settlement date of the security. @maturity is the maturity date of the security. @par is the price per $100 face value of the security. @redemption is the redeption value per $100 face value of the security. @basis is the type of day counting system you want to use:
0 US 30/360
1 actual days/actual days
2 actual days/360
3 actual days/365
4 European 30/360
If @settlement date or @maturity date is not valid, DISC returns #NUM! error. If @basis is omitted, US 30/360 is applied. If @basis < 0 or @basis > 4, DISC returns #NUM! error. If @settlement date is after @maturity date or they are the same, DISC returns #NUM! error.