Excel ODDLPRICE Function

Invalid date sequence where settlement is after maturity, or last_interest is after settlement. Dates must follow chronological order: last_interest < settlement < maturity.

Verify that dates follow the correct chronological order. Check that last_interest comes before settlement, and settlement before maturity. Use helper cells to validate date sequences before applying ODDLPRICE.

Use conditional validation: =IF(AND(last_interest<settlement, settlement<maturity), ODDLPRICE(...), "Invalid dates")

Non-numeric values entered for rate, yield, redemption, frequency, or basis parameters. This commonly happens when percentage signs are included or text is accidentally entered.

Enter rates and yields as decimal numbers (e.g., 0.05 for 5%, not 5 or 5%). Ensure frequency is exactly 1, 2, or 4. Remove any text or special characters from numeric parameters.

Format cells as numbers before referencing. Use ISNUMBER() to validate inputs before calculation.

Invalid basis argument (not in range 0-4), negative rate or yield values, or redemption value of zero or less. Frequency must be exactly 1, 2, or 4.

Use only basis values 0, 1, 2, 3, or 4. Ensure rate and yield are positive numbers. Verify redemption value is greater than zero (typically 100 for bonds). Check that frequency is 1, 2, or 4.

Add parameter validation checks before calculation to ensure all values are within valid ranges.

Using wrong day count basis for the security type, or entering rate/yield as whole numbers instead of decimals.

Choose appropriate basis: 0 (30/360) for US corporate bonds, 1 (actual/actual) for treasury notes, 4 (European 30/360) for European bonds. Always use DATE() function for dates. Verify rates are decimal format.

Document which basis convention applies. Create a reference table for different security types and their standard basis values.