This post will guide you how to use Excel ACCRINT function with syntax and examples in Microsoft excel.
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.
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:
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|
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|
The below examples will show you how to use Excel ACCRINT Function to return the accrued interest for a security that pays periodic interest.