Returns the accrued interest for a security that pays interest at maturity.
If this function is not available, and returns the #NAME? error, install and load the Analysis ToolPak add-in.
Syntax
ACCRINTM(issue,maturity,rate,par,basis)
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.
Issue is the security's issue date.
Maturity is the security's maturity date.
Rate is the security's annual coupon rate.
Par is the security's par value. If you omit par, ACCRINTM uses $1,000.
Basis is 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 |
where:
A = Number of accrued days counted according to a monthly basis. For interest at maturity items, the number of days from the issue date to the maturity date is used.
D = Annual Year Basis.
Example
The example may be easier to understand if you copy it to a blank worksheet.
Selecting an example from Help
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