Excel Accrint Function

This post will guide you how to use Excel ACCRINT function with syntax and examples in Microsoft excel.

Description

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

The ACCRINT function is a build-in function in Microsoft Excel and it is categorized as a Financial Function.

The ACCRINT function is available in Excel 2016, Excel 2013, Excel 2010, Excel 2007,  Excel 2011 for Mac.

Syntax

The syntax of the ACCRINT function is as below:

= ACCRINT (issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

Where the ACCRINT function arguments are:
Issue -This is a required argument. The security’s issue date.
First_interest – This is a required argument.  The security’s first interest date.
Sattlement – This is a required argument.  The security’s settlement date.
Rate – This is a required argument.  The security’s annual coupon rate.
Par – This is a required argument.  The par value of the security. Note: If Par is omitted, the default Par value will be set to $1000.
Frequency – This is a required argument.  The frequency of the interest payments for the security. The following values can be set:

1 Annual payments
2 Semiannual payments
4 Quarterly

 
Basis – This is an optional argument.  The type of day count basis to use. The following values can be set:

Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360

Calc_method – This is an optional argument.  it can be set as the following values:

0 Returns the accrued interest from first interest date  to settlement date
1 Returns the accrued interest from issue_date to settlement_date

Example

The below examples will show you how to use Excel ACCRINT Function to return the accrued interest for a security that pays periodic interest.

#1 =ACCRINT(B1,B2,B3,B4,B5,B6,B7)

excel accrint function example1

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