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ACCRINTM function

The ACCRINTM function is one of the financial functions. It is used to calculate the accrued interest for a security that pays interest at maturity.

Syntax

ACCRINTM(issue, settlement, rate, par, [basis])

The ACCRINTM function has the following arguments:

ArgumentDescription
issueThe issue date of the security.
settlementThe maturity date of the security.
rateThe annual interest rate of the security.
parThe par value of the security. It is an optional argument. If it is omitted, the function will assume par to be $1000.
basisThe day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. The possible values are listed in the table below.

The basis argument can be one of the following:

Numeric valueCount basis
0US (NASD) 30/360
1Actual/actual
2Actual/360
3Actual/365
4European 30/360
Notes

Dates must be entered by using the DATE function.

How to apply the ACCRINTM function.

Examples

The figure below displays the result returned by the ACCRINTM function.

ACCRINTM Function

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