Excel - Microsoft Excel Accrintm Function

Description

The Excel Accrintm function returns the accrued interest for a security that pays interest at maturity. 

The syntax of the function is : 

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

Where the arguments are as follows: 

Note that Microsoft advises that you do not type dates directly into functions, as Excel may interpret text representations of dates differently, depending on the date interpretation settings on your computer. Therefore the issue and settlement dates should be input as either: 

• References to cells containing dates

    or 

• Dates returned from other functions or formulas

Accrint Function Examples

The following spreadsheet shows an example of the Excel Accrintm function being used to calculate the accrued interest of a security that pays interest at maturity. The security has an issue date of 01-Jan-2012 and a settlement date of 31-Dec-2012. The annual coupon rate is 8% and the par value of the security is $10,000. The US (NASD) 30/360 day count basis is used. 

The above function gives the result $800

Note that, in the example above, the [basis] argument is omitted, and therefore takes the default value of 0 (US (NASD) 30/360 basis). 

Accrintm Function Errors

If you get an error from the Excel Accrintm function, this is likely to be one of the following: 

Common Errors