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- ACCRINTM
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ACCRINTM
The ACCRINTM function calculates the total accrued interest added to the purchase price of a security and paid to the seller when the security pays interest only at maturity.
ACCRINTM(issue, settle, annual-rate, par, days-basis)
issue: A date/time value or date string representing the date the security was originally issued.
settle: A date/time value or date string representing the trade settlement date, usually one or more days after the trade date. settle must be after the date specified for issue.
annual-rate: A number value representing the annual coupon rate or stated annual interest rate of the security used to determine periodic interest payments. annual-rate must be greater than 0, and is entered as a decimal (for example, 0.08) or with a percent sign (for example, 8%).
par: A number value representing the par (face) or maturity value of the security. par is commonly a number like 100, 1,000, or 1,000,000. par is often formatted as currency. If par is omitted (comma, but no value), par is assumed to be 1000.
days-basis: An optional modal value specifying the number of days per month and days per year (days-basis convention) used in the calculations.
30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD method for dates falling on the 31st of a month.
actual/actual (1): Actual days in each month, actual days in each year.
actual/360 (2): Actual days in each month, 360 days in a year.
actual/365 (3): Actual days in each month, 365 days in a year.
30E/360 (4): 30 days in a month, 360 days in a year, using the European method for dates falling on the 31st of a month.
Notes
The currency shown in this function result depends on your Language & Region settings (in System Preferences in macOS and in Settings in iOS and iPadOS), or on your Time Zone & Region settings in iCloud Settings.
Example |
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Suppose you are considering the purchase of a hypothetical security. The security was issued December 14, 2007 (issue), will settle May 1, 2009 (settle), has a face value of $1000 (par), and pays interest at an annual rate of 10% (annual-rate) calculated based on a 30/360 days basis (days-basis) only at maturity. =ACCRINTM("12/14/2007", "05/01/2009", 0.10, 1000, 0) returns approximately 138.055555555556, which represents the interest accrued between the issue date and the settlement date. This amount would be added to the agreed price to determine the amount due to the seller by the purchaser of the security. |