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 |
Excel ACCRINT Function Examples
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)
Related Functions
- Excel AccrintM Function
The Excel ACCRINTM function returns the accrued interest for a security that pays interest at maturity.The syntax of the ACCRINTM function is as below:= ACCRINTM(issue, settlement, rate, par, [basis])…
