Related Function:

The ACCRINTM function returns the accrued interest for a security that pays interest at maturity. 

Syntax

=ACCRINTM(issue,settlement,rate,par,[basis])

Arguments

Argument Description
issue The security’s issue date
settlement The security’s maturity date
rate The security’s annual coupon rate
par The security’s par value. If you omit par, ACCRINTM uses $1,000
[basis] Optional. Defines the day count basis to be used in the calculation

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

The financial day count basis rules are explained in detail on the Wikipedia Day Count Convention page

Note: The issue and settlement dates should be input as either:

  • References to cells containing dates, or
  • Dates returned from formulas

If you attempt to input these date arguments as text, Excel may misinterpret them, due to different date systems, or date interpretation settings.

Warning: Although you can input the date arguments as date serial numbers, this is not recommended as date serial numbering does vary across different computer systems.

Examples

  A B C D
1 Data      
2 01-Apr-2014 Issue date    
3 15-Jun-2014 Maturity date    
4 10.0% Coupon rate    
5 $1,000 Par value    
6 3 Actual/365 Basis    
7        
8 Formula Result Notes
9 =ACRINTM(A2,A3,A4,A5,A6) $20.55 The accrued interest for the above terms

Common Function Error(s)

Problem What went wrong
#VALUE! Occurs if the issue or settlement arguments are not valid dates
#NUM! Occurs if:

  the rate argument is ≤ 0 or the [par] argument is ≤ 0
  the [basis] argument is not equal to 1, 2, 3 or 4
  the issue argument is ≥ the settlement argument
#NAME? Occurs when Analysis ToolPak add-in is not enabled