# DURATION

financial · from excel · excel: verified match · sheets: verified match

returns the Macaulay duration of a security

## signature

```
DURATION(settlement, maturity, coupon, yld, frequency, [basis])
```

returns: `number`

## arguments

- settlement: number — required
- maturity: number — required
- coupon: number — required
- yld: number — required
- frequency: number — required
- basis: number — optional

## examples

formula and result, asserted in the engine test suite.

| formula | result | with |
| --- | --- | --- |
| `=DURATION(DATE(2026,1,1), DATE(2030,1,1), 0.08, 0.09, 2)` | `3.4910833018229606` | — |

## errors

error values observed from the engine — each with a call that produces it.

| error | produced by |
| --- | --- |
| `#ERROR!` | `=DURATION(1, 2, 3, 4)` |

## related

- [ACCRINT](https://deepcalc.com/functions/accrint.md) — accrued interest for a security paying periodic interest
- [ACCRINTM](https://deepcalc.com/functions/accrintm.md) — accrued interest for a security paying at maturity
- [AMORDEGRC](https://deepcalc.com/functions/amordegrc.md) — depreciation per period, French accounting, degressive
- [AMORLINC](https://deepcalc.com/functions/amorlinc.md) — depreciation per period, French accounting, linear
- [COUPDAYBS](https://deepcalc.com/functions/coupdaybs.md) — days from coupon period start to settlement
- [COUPDAYS](https://deepcalc.com/functions/coupdays.md) — days in the coupon period containing settlement
- [COUPDAYSNC](https://deepcalc.com/functions/coupdaysnc.md) — days from settlement to the next coupon date
- [COUPNCD](https://deepcalc.com/functions/coupncd.md) — next coupon date after settlement

## navigate

- [all financial functions](https://deepcalc.com/functions/financial-functions.md)
- [function index](https://deepcalc.com/functions.md) — all 600 functions
- [error values](https://deepcalc.com/errors.md) · [concepts](https://deepcalc.com/concepts.md) · [limits](https://deepcalc.com/limits.md)
- [everything in one file](https://deepcalc.com/llms-full.txt)

source: https://deepcalc.com/functions/duration