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:
| Argument | Description |
|---|---|
| issue | The issue date of the security. |
| settlement | The maturity date of the security. |
| rate | The annual interest rate of the security. |
| par | The par value of the security. It is an optional argument. If it is omitted, the function will assume par to be $1000. |
| basis | The 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 value | Count basis |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 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.
