# MS Excel: ACCRINTM Function (WS)

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

## Description

The Microsoft Excel ACCRINTM function returns the accrued interest for a security that pays interest at maturity.

## Syntax

The syntax for the Microsoft Excel ACCRINTM function is:

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

### Parameters or Arguments

issue_date is the date that the security was issued.

maturity_date is the maturity 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 ACCRINTM function will assume that the par is set to \$1,000.

basis is optional. It is the type of day count to use when calculating interest for the security. If this parameter is omitted, the ACCRINTM 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

## Applies To

The ACCRINTM 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 ACCRINTM 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 ACCRINTM function examples and explore how to use the ACCRINTM function as a worksheet function in Microsoft Excel: Based on the spreadsheet above, the following Excel 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
(because par, the omitted parameter,
is defaulted to \$1000)```

Source: www.tutorialspoint.com

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