What is the DAX function PRICE?
The PRICE function is a DAX function that is used to calculate the price of an investment. This function takes four arguments: settlement, maturity, rate, and yield. Settlement is the date on which the investment was purchased, maturity is the date on which the investment matures, rate is the annual interest rate, and yield is the yield on the investment. Using these four arguments, the PRICE function calculates the price of the investment.
How to use the PRICE function in Power BI
Using the PRICE function in Power BI is quite simple. You just need to follow these steps:
1. Open Power BI Desktop and create a new report.
2. Go to the “Modeling” tab and click on “New Measure”.
3. In the formula bar, type the following formula:
Price = PRICE(settlement, maturity, rate, yield)
4. Replace the settlement, maturity, rate, and yield values with the values that you want to use in your calculation.
5. Click on “OK” to create the measure.
6. You can now use the measure in your visualizations to calculate the price of an investment.
Examples of using the PRICE function
Let’s take a look at a few examples of how you can use the PRICE function in Power BI:
Suppose you have an investment that was purchased on January 1, 2020, matures on December 31, 2025, has an annual interest rate of 5%, and a yield of 6%. To calculate the price of this investment, you can use the following formula:
Price = PRICE("1/1/2020", "12/31/2025", 0.05, 0.06)
The result of this formula would be the price of the investment.
Suppose you have a table that contains data about different investments, including the settlement date, maturity date, interest rate, and yield. To calculate the price of each investment, you can create a measure using the PRICE function. The formula for the measure would be:
Price = PRICE(MIN('Table'[Settlement Date]), MAX('Table'[Maturity Date]), MAX('Table'[Interest Rate]), MAX('Table'[Yield]))
This formula calculates the price of the investment using the minimum settlement date, the maximum maturity date, the maximum interest rate, and the maximum yield.
The DAX function PRICE is a powerful tool that can help you calculate the price of an investment in Power BI. By using this function, you can analyze your data more efficiently and make better-informed decisions. In this article, we discussed how to use the PRICE function in Power BI and provided examples of how to apply it in different scenarios. Start using the PRICE function in your Power BI reports today and take your data analysis to the next level.