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The ACCRINTM function is one of the financial functions. It is used to calculate the accrued interest for a security that pays interest at maturity.


ACCRINTM(issue, settlement, rate, par, [basis])

The ACCRINTM function has the following arguments:

Argument Description
issue The issue date of the security.
settlement The maturity date of the security.
rate The annual interest rate of the security.
par The par value of the security. It is an optional argument. If it is omitted, the function will assume par to be $1000.
basis The day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. The possible values are listed in the table below.

The basis argument can be one of the following:

Numeric value Count basis
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360


Dates must be entered by using the DATE function.

How to apply the ACCRINTM function.


The figure below displays the result returned by the ACCRINTM function.


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