{"id":11148,"date":"2025-07-15T13:34:51","date_gmt":"2025-07-15T13:34:51","guid":{"rendered":"https:\/\/functiontranslator.com\/otn\/"},"modified":"2021-02-25T17:31:00","modified_gmt":"2021-02-25T17:31:00","slug":"tbilleq","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/pt-pt\/tbilleq\/","title":{"rendered":"OTN"},"content":{"rendered":"

Introdu\u00e7\u00e3o<\/h2>\n

A fun\u00e7\u00e3o TBILLEQ, designada em portugu\u00eas como OTN, \u00e9 utilizada tanto no Microsoft Excel quanto no Google Planilhas para calcular a taxa de retorno anual equivalente de um t\u00edtulo do Tesouro dos EUA, com base em sua taxa de desconto. Essa fun\u00e7\u00e3o \u00e9 extremamente \u00fatil para investidores e analistas financeiros interessados em comparar os rendimentos de diferentes t\u00edtulos do Tesouro.<\/p>\n

Sintaxe e Exemplos<\/h2>\n

A sintaxe da fun\u00e7\u00e3o OTN no Excel e Google Planilhas \u00e9:<\/p>\n

=OTN(settlement, maturity, discount)<\/code><\/pre>\n
    \n
  • settlement<\/strong> – A data de liquida\u00e7\u00e3o do t\u00edtulo, que \u00e9 quando o comprador efetivamente adquire o t\u00edtulo ap\u00f3s sua emiss\u00e3o.<\/li>\n
  • maturity<\/strong> – A data de vencimento do t\u00edtulo, ocasi\u00e3o em que o valor nominal \u00e9 pago ao portador.<\/li>\n
  • discount<\/strong> – A taxa de desconto aplicada ao t\u00edtulo.<\/li>\n<\/ul>\n
    Exemplo:<\/p>\n
    =OTN(\"2023-01-01\", \"2023-06-01\", 0.05)<\/code><\/pre>\n
    Este exemplo calcula a taxa de retorno anual equivalente de um t\u00edtulo com data de liquida\u00e7\u00e3o em 1 de janeiro de 2023, data de vencimento em 1 de junho de 2023 e uma taxa de desconto de 5%.<\/p>\n
    Casos Pr\u00e1ticos de Uso<\/h2>\n
    1. Compara\u00e7\u00e3o de T\u00edtulos<\/h2>\n
    Considere um investidor que esteja analisando dois t\u00edtulos do Tesouro com diferentes caracter\u00edsticas:<\/p>\n\n\n\n\n
    T\u00edtulo<\/th>\nData de Liquida\u00e7\u00e3o<\/th>\nData de Vencimento<\/th>\nTaxa de Desconto<\/th>\n<\/tr>\n
    T\u00edtulo A<\/td>\n2023-01-01<\/td>\n2023-06-01<\/td>\n4.5%<\/td>\n<\/tr>\n
    T\u00edtulo B<\/td>\n2023-01-01<\/td>\n2023-12-01<\/td>\n4.8%<\/td>\n<\/tr>\n<\/table>\n
    =OTN(\"2023-01-01\", \"2023-06-01\", 0.045) \/\/ Taxa anual equivalente para T\u00edtulo A =OTN(\"2023-01-01\", \"2023-12-01\", 0.048) \/\/ Taxa anual equivalente para T\u00edtulo B<\/code><\/pre>\n
    Com a fun\u00e7\u00e3o OTN, o investidor pode calcular a taxa de retorno anual equivalente para cada t\u00edtulo, auxiliando-o a decidir qual t\u00edtulo adquirir, com base nos seus rendimentos potenciais.<\/p>\n
    2. An\u00e1lise de Sensibilidade<\/h2>\n
    Outro uso comum da fun\u00e7\u00e3o OTN \u00e9 a an\u00e1lise de sensibilidade, que permite aos investidores analisar como diferentes taxas de desconto impactam o rendimento dos t\u00edtulos. Imagine um analista que deseja explorar diferentes cen\u00e1rios para um mesmo t\u00edtulo:<\/p>\n
    =OTN(\"2023-01-01\", \"2023-06-01\", 0.04) =OTN(\"2023-01-01\", \"2023-06-01\", 0.05) =OTN(\"2023-01-01\", \"2023-06-01\", 0.06)<\/code><\/pre>\n
    Este exemplo calcula a taxa de retorno anual equivalente para tr\u00eas diferentes taxas de desconto (4%, 5% e 6%) para o mesmo t\u00edtulo, permitindo ao analista entender como varia\u00e7\u00f5es na taxa de desconto influenciam diretamente os retornos, apoiando na tomada de decis\u00f5es em diversas condi\u00e7\u00f5es de mercado.<\/p>\n","protected":false},"excerpt":{"rendered":"
    Devolve o lucro de um t\u00edtulo equivalente a uma Obriga\u00e7\u00e3o do Tesouro<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[438],"tags":[],"class_list":["post-11148","post","type-post","status-publish","format-standard","hentry","category-financeira"],"acf":[],"yoast_head":"\nFun\u00e7\u00e3o TBILLEQ (OTN) no Excel \u2013 como funciona, exemplos e sintaxe<\/title>\n<meta name=\"description\" content=\"Breve descri\u00e7\u00e3o da fun\u00e7\u00e3o TBILLEQ (OTN) do Excel. 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