ACCRINT function
Summary
Returns the accrued interest for a security that pays periodic interest
Syntax
ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])
Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.
The ACCRINT function syntax has the following arguments:
• Issue Required. The security's issue date.
• First_interest Required. The security's first interest date.
• Settlement Required. The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
• Rate Required. The security's annual coupon rate.
• Par Required. The security's par value. If you omit par, ACCRINT uses $1,000.
• Frequency Required. The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
• Basis Optional. The type of day count basis to use.
Basis | Day count basis
0 or omitted | US (NASD) 30/360
1 | Actual/actual
2 | Actual/360
3 | Actual/365
4 | European 30/360
• Calc_method Optional. A logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first_interest. A value of TRUE (1) returns the total accrued interest from issue to settlement. A value of FALSE (0) returns the accrued interest from first_interest to settlement. If you do not enter the argument, it defaults to TRUE.
The ACCRINT function syntax has the following arguments:
• Issue Required. The security's issue date.
• First_interest Required. The security's first interest date.
• Settlement Required. The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
• Rate Required. The security's annual coupon rate.
• Par Required. The security's par value. If you omit par, ACCRINT uses $1,000.
• Frequency Required. The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
• Basis Optional. The type of day count basis to use.
Basis | Day count basis
0 or omitted | US (NASD) 30/360
1 | Actual/actual
2 | Actual/360
3 | Actual/365
4 | European 30/360
• Calc_method Optional. A logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first_interest. A value of TRUE (1) returns the total accrued interest from issue to settlement. A value of FALSE (0) returns the accrued interest from first_interest to settlement. If you do not enter the argument, it defaults to TRUE.
Example
=ACCRINT(A2,A3,A4,A5,A6,A7,A8)
=ACCRINT(DATE(2008,3,5),A3,A4,A5,A6,A7,A8,FALSE)
=ACCRINT(DATE(2008, 4, 5), A3, A4, A5, A6, A7, A8, TRUE)
=ACCRINT(DATE(2008,3,5),A3,A4,A5,A6,A7,A8,FALSE)
=ACCRINT(DATE(2008, 4, 5), A3, A4, A5, A6, A7, A8, TRUE)