ACCRINT
The ACCRINT function returns the accrued interest on a security that pays periodic interest. The amount returned is the total interest accrued since the issue date, not the amount accrued since the last coupon payment.
ACCRINT(issue, first, settle, annual-rate, par, frequency, days-basis)
issue: A date/time value or date string representing the date the security was originally issued.
first: A date/time value or date string representing the date of the first interest payment. first must be after the date specified for issue.
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.
frequency: A modal value specifying the number of coupon or periodic interest payments each year.
annual (1): One payment per year.
semiannual (2): Two payments per year.
quarterly (4): Four payments per year.
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 12 and earlier, System Settings in macOS 13 and later, and Settings in iOS and iPadOS), or on your Time Zone & Region settings in iCloud Settings.
Example 1 |
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Suppose you are considering the purchase of a hypothetical security. The security was issued December 14, 2008 (issue), has a first coupon payment date of July 1, 2009 (first), will settle May 1, 2009 (settle), pays interest at an annual rate of 10% (annual-rate) semiannually (frequency), has a face value of $1000 (par), and interest is calculated based on a 30/360 days basis (days-basis). Note that in this example, the settlement date is assumed to be before the first coupon date. =ACCRINT ("12/14/2008", "07/01/2009", "05/01/2009", 0.10, 1000, 2, 0) returns approximately 38.0555555555556, which represents the interest accrued between the issue date and the settlement date. |
Example 2 |
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Suppose you are considering the purchase of the same hypothetical security described in Example 1, except that the settlement date is September 15, 2009, after the first coupon date. =ACCRINT ("12/14/2008", "07/01/2009", "09/15/2009", 0.10, 1000, 2, 0) returns approximately 75.2777777777778, which represents the interest accrued between the issue date and the settlement date. |