Excel - Microsoft Excel Accrint Function

Description

The Excel Accrint function returns the accrued interest for a security that pays periodic interest. 

The syntax of the function is : 

ACCRINT( issue, first_interest, settlement, rate, [par], frequency, [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, first_interest 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 Accrint function being used to calculate the accrued interest of a security that pays periodic interest. The security's issue date is 01-Jan-2012, the first interest date is 01-Apr-2012, the settlement date is 31-Dec-2013 and the annual coupon rate is 8%. The security's par value is $10,000, payments are made quarterly, and a US (NASD) 30/360 day count basis is used. 

The above function gives the result $1600

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

Accrint Function Errors

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

Common Errors