# Financial Terms “X Y Z” ## XLOOKUP

XLOOKUP is an Excel function that searches a range or an array for a match and returns the corresponding item from a second range or array. It is more versatile than VLOOKUP because it can get data from either columns or rows.

XLOOKUP is a new function that is available in Excel 365. It will eventually replace both VLOOKUP and HLOOKUP.

## Yield

A yield is the rate of return to the investor of an investment for a period of time.

## Yield to maturity

The yield to maturity is the effective rate of a bond. It is called the effective interest rate. It considers the bond’s face value, market price, contract rate, and maturity.

## Zero-coupon bond

A zero-coupon bond is a bond without semiannual interest payments. Since there is no coupon interest rate, the bonds sell at a deep discount. Both the bond principal and accumulated interest payments are paid at maturity.

## Zero-sum game

A situation where the total gains of the winner(s) exactly equal the losses of the loser(s). For example, games like poker and chess are zero-sum games.

Jeff Mankin

Jeff Mankin teaches financial literacy. His website is FinallyLearn.com.