Syntax
MDURATION(Settlement, Maturity, Rate, Yield, frequency [, basis])
Arguments
Argument  Data type  Description 
Settlement (required)  Date  The bond settlement date: The date the bond is traded to the buyer. 
Maturity (required)  Date  The bond maturity date: The date when the bond expires. 
Rate (required)  Number  The bond annual coupon date. 
Yield (required)  Number  The bond annual yield. 
Frequency (required)  Number  The number of coupon payments per year. Enter:

Basis  Number  The basis determines how many days exist in a year. A full year has:
US 30/360 is the default basis for COUPDAYS. It can also be specified by entering 0. To use a different type of day count basis, enter:
Learn about the conventions used to calculate the day count for basis. 
The DURATION function returns a number.
Additional information
The modified Macauley duration is calculated with the following formula:
Where:
 y is yield
 f is frequency
Constraints
 The settlement and maturity dates must be valid dates between 01/01/1900 and 12/31/2399.
 The maturity date must be later than the settlement date.
 The rate and yield must be positive or zero.
 The frequency must be either 1 (annual), 2 (semiannual), or 4 (quarterly).
 The basis, when specified, must be either 0 (US 30/360), 1 (Actual/Actual), 2 (Actual/360), 3 (Actual/365), or 4 (EUR 30/360).
Calculation engine functionality differences
Most financial functions are currently unavailable in Polaris. Learn more about the differences between Anaplan calculation engines.
Excel equivalent
Related Anaplan functions
Examples
This example shows a modified Macauley duration calculation that specifies a basis.
Formula  Description  Result 
MDURATION(DATE(2018, 1, 15), DATE(2021, 1, 15), 0.12, 0.1, 1, 4)  The example has a:
 2.4524373 
This example shows a modified Macauley duration calculation that does not specify a basis. As a result, the basis defaults to US 30/360.
Formula  Description  Result 
MDURATION(DATE(2018, 1, 15), DATE(2021, 1, 15), 0.12, 0.1, 4)  The example has a:
 2.5131792 