Financial
RECEIVED Function in Excel
Returns the amount received at maturity for a fully invested security.
Syntax
- =RECEIVED(settlement, maturity, investment, discount, [basis])
Arguments
- settlement (required): Settlement date
- maturity (required): Maturity date
- investment (required): Amount invested
- discount (required): Discount rate
- basis (optional): Day count basis
Examples
- =RECEIVED("2/15/2024", "5/15/2024", 1000000, 0.0575) - Amount received - Result: 1014584
RECEIVED modeling tips
- Align rate and period units (annual rate ÷ 12 for monthly models).
- Use consistent cash-flow signs (outflows negative, inflows positive).
- Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).
Common errors
- #NUM! if maturity <= settlement
Use cases
- T-bill returns
- Discount securities
- Investment returns
Frequently asked questions
- What is RECEIVED used for? RECEIVED calculates the amount you'll receive at maturity for a fully invested security. Given your investment amount and the discount rate, it tells you the maturity value. Useful for T-bills, commercial paper, and discount instruments.
- How do I calculate T-bill maturity value? Use =RECEIVED(settlement, maturity, investment, discount_rate). Investing $100,000 in a 90-day T-bill at 5% discount: =RECEIVED(today, today+90, 100000, 0.05) tells you what you'll receive at maturity.
- How is RECEIVED related to PRICEDISC? They're inverses. PRICEDISC: given discount rate, what do I pay? RECEIVED: given discount rate and investment, what do I get? If you invest PRICEDISC amount, RECEIVED returns the redemption value (typically 100 per $100 face).
Editorial review
- Reviewed by Excel.Directory Editorial Team. Updated May 2026.