ACCRINTM Function Explained
The ACCRINTM Function in Microsoft Excel calculates the interest accrued on a security that pays periodic interest, based on a 365-day year. It takes the following arguments: issue, settlement, rate, par, frequency, basis, calc_method.
ACCRINTM Function Syntax
ACCRINTM(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])
- issue: The security’s issue date.
- first_interest: The security’s first interest date.
- settlement: The security’s settlement date.
- rate: The security’s annual coupon rate.
- par: The security’s par value.
- frequency: The number of coupon payments per year.
- basis: The type of day count basis to use. The default value is 0 (US (NASD) 30/360).
- calc_method: A logical value that specifies the type of day count basis to use. The default value is FALSE (calculate using the actual number of days in the month).