Description 
Consider a money market instrument, with a maturity of September 4 2003 and an accrual basis of actual/360. If the yield on March 8 2003 is 5.95%, then the discount rate is calculated as follows: 




Function Specification 
=oMM_ConvertDR(0.0595, "8/3/03", "4/9/03", 1) 




Solution 
The discount rate of the instrument is calculated as follows: where: 



For further details on how the above yield is calculated, see the money market formula. 



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