Easy Explanation Notes with Examples

ACCRINTM function in Excel

Use

ACCRINTM function returns the accrued interest of a security (usually a bond) that pays interest at maturity.

Syntax

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

issue – Required. The issue date of the security.

settlement – Required. The date on which the security matured.

rate – Required. The rate of return (annual coupon rate) of the security.

par – Required. The par value of the security. If omitted, Excel uses $1,000.

[basis] – The optional argument that specifies the type of days count.

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

Example

Formula:

Result:

Function Errors

Error If
#VALUE! When dates are not valid
#NUM! Rate ≤ 0 or par ≤ 0
Basis < 0 or basis > 4
Issue date ≥ settlement date




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