ACCRINT Function Explained
The ACCRINT Function in Microsoft Excel calculates the accrued interest for a security that pays periodic interest. It takes the following arguments: issue, first_interest, settlement, rate, par, frequency, basis, calc_method. It returns the amount of interest accrued between the settlement date and the first_interest date.
ACCRINT Function Syntax
ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])
- issue: The issue date of the security.
- first_interest: The date of the first interest payment.
- settlement: The date of the security’s settlement.
- rate: The security’s annual coupon rate.
- par: The security’s par value.
- frequency: The number of coupon payments per year.
- basis: (Optional) The type of day count basis to use. The default is 0 (US (NASD) 30/360).
- calc_method: (Optional) A logical value that specifies the calculation method to use. The default is FALSE (calculate the actual number of days in the coupon period).