Financial - ACCRINTM Function

Description

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

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

Argument	Description	Required/ Optional
Issue	The security's issue date.	Required
Settlement	The security's maturity date.	Required
Rate	The security's annual coupon rate.	Required
Par	The security's par value. If you omit par, ACCRINTM uses $1,000.	Required
Basis	The type of day count basis to use. Look at the Day Count Basis table below.	Optional

ACCRINTM is calculated as follows −

ACCRINTM = par × rate × A/D

Where,

A = Number of accrued days counted according to a monthly basis. For interest at maturity items, the number of days from the issue date to the maturity date is used.

D = Annual Year Basis.
Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE (2008,5,23) for the 23^rd day of May, 2008. Problems can occur if dates are entered as text.
Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900.
Issue, settlement, and basis are truncated to integers.
If issue or settlement is not a valid date, ACCRINTM returns the #VALUE! error value.
If any of the specified values is non-numeric, ACCRINT returns the #VALUE! error value.
If rate ≤ 0 or if par ≤ 0, ACCRINTM returns the #NUM! error value.
If basis < 0 or if basis > 4, ACCRINTM returns the #NUM! error value.
If issue ≥ settlement, ACCRINTM returns the #NUM! error value.

Excel 2007, Excel 2010, Excel 2013, Excel 2016

advanced_excel_financial_functions.htm