ACCRINT

Formulas / ACCRINT
Calculate accrued interest for a security that pays periodic interest.
=ACCRINT(id,fd,sd,rate,par,freq,[basis],[calc])
  • id - the issue date of the security
  • fd - the first interest date of the security
  • sd - the settlement date of the security
  • rate - the interest rate of the security
  • par - the par value of the security
  • freq - the coupon payments per year (annual = 1, semiannual = 2; quarterly = 4)
  • basis - [OPTIONAL] the day count basis
  • calc - [OPTIONAL] the method for performing the calculation

Examples

  • =ACCRINT(DATE(2018,10,15),DATE(2018,10,15),DATE(2019,2,1),0.05,1000,2,0,TRUE)

    The ACCRINT function can be used to calculate the accrued interest for a bond. In this example, the function is formatted to use hardcoded values to determine the amount of interest accrued between specific dates. The function returns $14.72.

  • =ACCRINT(C9,C9,C8,C6,C5,C12,C13,TRUE)

    The ACCRINT function can also be used to calculate the accrued interest for a bond using cells in an Sourcetable spreadsheet as inputs. The syntax for this example is . This example calculates the accrued interest for a bond from cell entries representing a 5% coupon rate, an issue date of 5-Apr-2018, a settlement date of 1-Feb-2019 and a last coupon date of 15-Oct-2018. The function returns $14.72.

Summary

The ACCRINT function calculates the accrued interest for a security that pays periodic interest. This function is a useful tool for tracking the interest earned on a security over time.

  • The ACCRINT function returns accrued interest for a security that pays periodic interest, and can be used with different date configurations.
  • The ACCRINT function uses the issue date to calculate interest by default, however the calc_method argument can be used to specify how to calculate total accrued interest when the date of settlement is greater than first_interest.

Frequently Asked Questions

What is the ACCRINT Function?
The ACCRINT function is a calculation tool for determining the accrued interest for a security.
What Arguments Does ACCRINT Require?
The ACCRINT function requires six arguments: issue, first_interest, settlement, rate, par, and frequency.
What Are the Optional Arguments for ACCRINT?
The ACCRINT function takes two optional arguments: basis and calc_method.
What Happens When ACCRINT is Calculated?
When ACCRINT is calculated, the issue, first_interest, settlement, frequency, and basis arguments are truncated to integers. If the issue, first_interest, or settlement are invalid dates, an #VALUE! error is thrown.

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