ACCRINT Function in MS Excel

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 ACCRINT Function in MS Excel

What is the ACCRINT Function?

The ACCRINT Function is an Excel Financial function. The function will calculate the accrued interest for a security that pays interest on a periodic basis.

ACCRINT helps users calculate the accrued interest on a security, such as a bond, when that security is sold or is transferred to a new owner on a date other than the issue date or on a date that is an interest payment date.

Syntax

The syntax for the ACCRINT function in Microsoft Excel is:

ACCRINT( issue_date, first_interest_date, settlement_date, rate, par, frequency, [basis], [calculation_method] )

Parameters or Arguments

issue_date

The date that the security was issued.

first_interest_date

The date that the first interest will be paid.

settlement_date

The settlement date of the security.

rate

The annual coupon rate for the security.

par

The par value of the security. If this parameter is omitted, the ACCRINT function will assume that the par is set to ₹1,000.

frequency

The frequency of the interest payments for the security. It can be any of the following values:

Value

Explanation

1

Annual payments

2

Semi-annual payments

4

Quarterly payments

basis

Optional. It is the type of day count to use when calculating interest for the security. If this parameter is omitted, it assumes that the basis is set to 0. It can be any of the following values:

Value

Explanation

0

US (NASD) 30/360

1

Actual/Actual

2

Actual/360

3

Actual/365

4

European 30/360

calculation_method

Optional. It is either of the following values:

Value

Explanation

0

Calculates the accrued interest from first_interest_date to settlement_date

1

Calculates the accrued interest from issue_date to settlement_date

Returns

The ACCRINT function returns a numeric value.

Applies To

  • Excel for Office 365, Excel 2019, Excel 2016, Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007

Type of Function

  • Worksheet function (WS)

Example (as Worksheet Function)

Let's look at some Excel ACCRINT function examples and explore how to use the ACCRINT function as a worksheet function in Microsoft Excel:



Based on the Excel spreadsheet above, the following ACCRINT examples would return:

=ACCRINT(B1,B2,B3,B4,B5,B6,B7,B8)
Result: 32.3630137
 
=ACCRINT(DATE(2012,1,1),DATE(2012,3,31),DATE(2012,2,15),0.0525,5000,4,3,1)
Result: 32.3630137
 
=ACCRINT(DATE(2012,1,1),DATE(2012,3,31),DATE(2012,2,15),5.25%,5000,4,3,1)
Result: 32.3630137
 
=ACCRINT(DATE(2012,1,1),DATE(2012,3,31),DATE(2012,2,15),5.25%,1000,4,3,1)
Result: 6.47260274
 
=ACCRINT(DATE(2012,1,1),DATE(2012,3,31),DATE(2012,2,15),5.25%,,4,3,1)
Result: 6.47260274   'The parameter par is defaulted to ₹1000

 

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