I think that your formula is missing the "discount" or percentage. I have seen
the formula published on the Microsoft help pages and it too does not show any
derivation.
On Monday, May 01, 2023 12:24 EDT, Vijay Vardhan wrote:
The formula of function RECEIVED for calculating received value on maturity
is incorrect on the webpage of function RECEIVED.
RECEIVED = purchasevalue / ( 1 - days_difference/days_in_year). This is an
incorrect formula. There is no formula on the webpage of 'Derivation Of
Financial Formulas' either for this function.
