TBILLPRICE function in Excel
Returns the price per $100 face value for a Treasury bill
=TBILLPRICE(settlement, maturity, discount)TBILLPRICE syntax and parameters
Three arguments, three required.
- settlementanyRequired
The Treasury bill's settlement date. The security settlement date is the date after the issue date when the Treasury bill is traded to the buyer.
- maturityanyRequired
The Treasury bill's maturity date. The maturity date is the date when the Treasury bill expires.
- discountnumberRequired
The Treasury bill's discount rate.
TBILLPRICE examples
Formulas you'll actually reuse.
Price per $100 of a 91-day T-bill quoted at a 4.5% discount:
=TBILLPRICE(DATE(2026, 3, 15), DATE(2026, 6, 14), 4.5%)Result
98.8625The cost of a $1,000,000 face-value bill:
=TBILLPRICE(B2, C2, D2) * 1000000 / 100Result
988625
TBILLPRICE in Google Sheets
Same name — your formula ports as-is.
Try TBILLPRICE in the playground
Edit the example — nothing to install.
Preloaded with the TBILLPRICE formula from Example 1 — change anything and watch it respond.
TBILLPRICE errors
What they mean — and the fixes.
#NUM!maturity is more than a year after settlement, or the discount rate is zero or negative.
Related functions
More ways Excel gets this done.
- ACCRINTReturns the accrued interest for a security that pays periodic interestFinancialGoogle Sheets
- ACCRINTMReturns the accrued interest for a security that pays interest at maturityFinancialGoogle Sheets
- AMORDEGRCReturns the depreciation for each accounting period by using a depreciation coefficientFinancialNo Google Sheets equivalent
- AMORLINCReturns the depreciation for each accounting periodFinancialGoogle Sheets
- COUPDAYBSReturns the number of days from the beginning of the coupon period to the settlement dateFinancialGoogle Sheets
- COUPDAYSReturns the number of days in the coupon period that contains the settlement dateFinancialGoogle Sheets