ACCRINTM Function in MS Excel

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ACCRINTM Function in MS Excel

What is the ACCRINTM Function?

The ACCRINTM function in Excel is used to calculate the accrued interest for a security that pays interest at maturity. This function is typically used for bonds and similar financial instruments where interest is not paid periodically but is instead accumulated and paid at the maturity of the security.

 Syntax

The syntax for the ACCRINTM function in Microsoft Excel is:

ACCRINTM( issue_date, maturity_date, rate, par, [basis] )

Parameters or Arguments

issue_date
The date that the security was issued.
maturity_date
The maturity 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 ACCRINTM function will assume that the par is set to $1,000.
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:

ValueExplanation
0US (NASD) 30/360
1Actual/Actual
2Actual/360
3Actual/365
4European 30/360

Returns

The ACCRINTM 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 ACCRINTM function examples and explore how to use the ACCRINTM function as a worksheet function in Microsoft Excel:



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

=ACCRINTM(B1,B2,B3,B4,B5)
Result: 365.9589041

=ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),0.065,5000,3)
Result: 365.9589041

=ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,5000,3)
Result: 365.9589041

=ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,1000,3)
Result: 73.19178082

=ACCRINTM(DATE(2012,1,1),DATE(2013,2,15),6.5%,,3)
Result: 73.19178082   'The parameter par is defaulted to $1000

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