Description
ACCRINTM returns the total accrued interest for a security that pays interest at maturity.
Overloads
ACCRINTM (issueDate, maturityDate, rate, parValue)
ACCRINTM (issueDate, maturityDate, rate, parValue, basis)
Arguments
issueDate is a
Date or
DateTime specifying when the security was issued.
maturityDate is a
Date or
DateTime after the issue date specifying when the security matures.
rate is a positive number specifying the annual interest rate for the security.
parValue is a positive number or currency specifying the par value of the security.
basis is an optional number specifying the day basis system to use. The following types are supported:
0 - American 30/360 (default)
Action
ACCRINTM returns the total accrued interest for a security that pays interest at maturity. This function calculates the interest by multiplying the par value, the interest rate, and the number of years and partial years between issue and maturity.
Example
Suppose a short-term $5,000 note, with a 10.5% annual interest rate, is issued on September 25, 1999 with a maturity on March 31, 2000. An actual/360 basis will be used.
ACCRINTM(DateValue(1999,9,25),DateValue(2000,3,31),0.105, 5000, 2)
This example returns $274.17 for the accrued interest of this security. There are 188 days between the issue and maturity dates, so $5000 x 0.105 x (188/360) = $274.17.
Comments
This function is similar to the Excel function of the same name.