MS Excel: ACCRINT Function (WS)


This Excel tutorial explains how to use the Excel ACCRINT function with syntax and examples.

Description

The Microsoft Excel ACCRINT function returns the accrued interest for a security that pays interest on a periodic basis.

Syntax

The syntax for the Microsoft Excel ACCRINT function is:

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

Parameters or Arguments

issue_date is the date that the security was issued.

first_interest_date is the date that the first interest will be paid.

settlement_date is the settlement date of the security.

rate is the annual coupon rate for the security.

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

ValueExplanation
1 Annual payments
2 Semi-annual payments
4 Quarterly payments

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

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

calculation_method is optional. It is either of the following values:

ValueExplanation
0 Calculates the accrued interest from first_interest_date to settlement_date
1 Calculates the accrued interest from issue_date to settlement_date

Applies To

The ACCRINT function can be used in the following versions of Microsoft Excel:

  • Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007

Type of Excel Function

The ACCRINT function can be used in Microsoft Excel as the following 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:

Microsoft Excel

Based on the spreadsheet above, the following Excel 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   (because par,
the omitted parameter,
 is defaulted to $1000)

Source: www.tutorialspoint.com


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