ACCRINT function
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ACCRINT
Calculates the accrued interest for a security with periodic interest payments.
This function is only available if the Analysis AddIn is installed.
Syntax:
ACCRINT(issue; first_interest; settlement; rate; par; frequency; basis)
- issue: the issue date of the security.
- first_interest: the first interest date of the security.
- settlement: the date at which the interest accrued up until then is to be calculated.
- rate: the annual nominal rate of interest (coupon interest rate)
- par: the par value of the security.
- frequency: the number of interest payments per year (1, 2 or 4).
- basis: is chosen from a list of options and indicates how the year is to be calculated. Defaults to 0 if omitted.
- 0 - US method (NASD), 12 months of 30 days each
- 1 - Exact number of days in months, exact number of days in year
- 2 - Exact number of days in month, year has 360 days
- 3 - Exact number of days in month, year has 365 days
- 4 - European method, 12 months of 30 days each
Example:
ACCRINT("2001-2-28"; "2001-8-31"; "2001-5-1"; 0.1; 1000; 2; 0)
- returns approximately 16.94444.
See Also