ACCRINTM

Formulas / ACCRINTM
The ACCRINTM formula calculates the accrued interest for a security that pays interest at maturity, based on the issue date, maturity date, and rate of interest.
ACCRINTM(issue, settlement, rate, [par], [basis])
  • issue - The security's issue date.
  • settlement - The security's settlement date.
  • rate - The security's annual interest rate.
  • [par] - [OPTIONAL] The security's par value. If omitted, the default value is 1,000.
  • [basis] - [OPTIONAL] The day count basis to be used. If omitted, the default value is 0 (US (NASD) 30/360).

Examples

  • =ACCRINTM("2022-01-01`, "2022-07-01`, 0.05, 1000, 0)

    This formula calculates the accrued interest for a security that pays interest at maturity, with an issue date of January 1, 2022, a settlement date of July 1, 2022, an annual interest rate of 5%, a par value of 1,000, and a day count basis of US (NASD) 30/360. The result is the amount of interest accrued from the issue date to the settlement date.

  • =ACCRINTM("2022-01-01`, "2022-12-31`, 0.04, 2000, 1)

    This formula calculates the accrued interest for a security that pays interest at maturity, with an issue date of January 1, 2022, a settlement date of December 31, 2022, an annual interest rate of 4%, a par value of 2,000, and a day count basis of Actual/Actual. The result is the amount of interest accrued from the issue date to the settlement date.

Summary

The ACCRINTM formula calculates the accrued interest for a security that pays interest at maturity, based on the issue date, maturity date, and rate of interest.

  • The ACCRINTM function is a financial function that calculates the accrued interest for a security that pays interest at maturity, based on the issue date, settlement date, annual interest rate, par value (optional), and day count basis (optional).
  • ACCRINTM takes five arguments: "issue" (the security's issue date), "settlement" (the security's settlement date), "rate" (the security's annual interest rate), "par" (optional, the security's par value; default is 1,000), and "basis" (optional, the day count basis to be used; default is 0 for US (NASD) 30/360).
  • If the arguments provided to ACCRINTM are not valid (e.g., if the issue date is later than the settlement date or if an invalid basis value is provided), the function returns a #NUM! error. The "rate" argument represents the annual interest rate as a decimal (e.g., 5% as 0.05).


Frequently Asked Questions

What does the ACCRINTM function do?
The ACCRINTM function calculates the accrued interest for a security that pays interest at maturity. It takes into account the security's issue date, settlement date, annual interest rate, par value (optional), and day count basis (optional) to determine the amount of interest accrued from the issue date to the settlement date.
What are the arguments of the ACCRINTM function?
The ACCRINTM function has five arguments: "issue" (the security's issue date), "settlement" (the security's settlement date), "rate" (the security's annual interest rate), "par" (optional, the security's par value; default is 1,000), and "basis" (optional, the day count basis to be used; default is 0 for US (NASD) 30/360).
What is the "basis" argument in the ACCRINTM function?
The "basis" argument specifies the day count basis to be used when calculating the accrued interest. It can take one of the following values: 0 for US (NASD) 30/360, 1 for Actual/Actual, 2 for Actual/360, 3 for Actual/365, or 4 for European 30/360.
What happens if the arguments provided to ACCRINTM are not valid?
If the arguments provided to ACCRINTM are not valid (e.g., if the issue date is later than the settlement date or if an invalid basis value is provided), the function returns a #NUM! error.
Can ACCRINTM handle fractional interest rates?
Yes, ACCRINTM can handle fractional interest rates. The "rate" argument represents the annual interest rate as a decimal. For example, an annual interest rate of 5% can be entered as 0.05.

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