`bondmoddur1(cpn;mat;dcb;setl;price)`

Returns the bond modified duration given price (regular semiannual payments).

Syntax

bondmoddur1(cpn;mat;dcb;setl;price)

Input

Argument	Type	Description
`cpn`	integer or decimal	The annual coupon rate expressed as a percentage A scalar value or the name of a column
`mat`	integer	The maturity date A scalar value or the name of a column containing date values
`dcb`	text	The day count basis (dcb) A text value or the name of a column Generally, `dcb` should be `'ACTACT'` for U.S. Treasury Notes and Bonds and `'I30360'` for U.S. corporate bonds. For more information, see Daily count basis.
`setl`	integer	The settlement date The `setl` argument must be a valid date and cannot be a column name or N/A.
`price`	integer	The price (without accrued interest) expressed as a percentage A scalar value or the name of a column

Note: One of the arguments must reference a column. This does not include setl, which cannot be a column name.

Return Value

Returns the modified duration of the bond as a decimal value. Bonds are assumed to pay interest semiannually with no odd payment periods. For other bonds, use bondmoddur2(cpn;mat;dcb;issu;first;freq;setl;price).

The bondmoddur1(cpn;mat;dcb;setl;price) function handles N/A values as follows:

If cpn, mat, or price are N/A, the result is N/A.
If dcb is N/A, actual/actual is used.

Note: 1010data has not audited these computations and takes no responsibility for their accuracy or precision. Please do not use the result of this function to trade securities without independently verifying the result.