Returns the accrued interest for a security that pays interest at maturity.
ACCRINTM(issue; settlement; rate; par; [basis])
The ACCRINTM function syntax has the following arguments:
- Issue Required. The security’s issue date.
- Settlement Required. The security’s maturity date.
- Rate Required. The security’s annual coupon rate.
- Par Required. The security’s par value. If you omit par; ACCRINTM uses $1;000.
- Basis Optional. The type of day count basis to use.
BASIS DAY COUNT BASIS 0 or omitted US (NASD) 30/360 1 Actual/actual 2 Actual/360 3 Actual/365 4 European 30/360
- 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 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.
- ACCRINT is calculated as follows:
- 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.
Change the data in the non-colored cells and see how the result changes in the yellow cells.