Description
The Microsoft Excel ACCRINTM function returns the accrued interest for a security that pays interest at maturity.
Syntax
The syntax for the ACCRINTM function in Microsoft Excel is:
ACCRINTM( issue_date, maturity_date, rate, par, [basis] )
Parameters or Arguments
- issue_date
- The date that the security was issued.
- maturity_date
- The maturity date of the security.
- rate
- The annual coupon rate for the security.
- par
- The par value of the security. If this parameter is omitted, the ACCRINTM function will assume that the par is set to $1,000.
- basis
- Optional. It is the type of day count to use when calculating interest for the security. If this parameter is omitted, it assumes that the basis is set to 0. It can be any of the following values:
Value Explanation 0 US (NASD) 30/360 1 Actual/Actual 2 Actual/360 3 Actual/365 4 European 30/360
Applies To
- Excel 2016, Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007
Type of Function
- Worksheet function (WS)
Example (as Worksheet Function)
Let's look at some Excel ACCRINTM function examples and explore how to use the ACCRINTM function as a worksheet function in Microsoft Excel:
Based on the Excel spreadsheet above, the following ACCRINTM examples would return:
=ACCRINTM(B1,B2,B3,B4,B5) Result: 365.9589041 =ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),0.065,5000,3) Result: 365.9589041 =ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,5000,3) Result: 365.9589041 =ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,1000,3) Result: 73.19178082 =ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,,3) Result: 73.19178082 'The parameter par is defaulted to $1000
