ACCRINT Function

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

ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

The ACCRINT function has the following arguments:

Argument	Description
*issue*	The issue date of the security.
*first_interest*	The date when the first interest is paid.
*settlement*	The date when the security is purchased.
*rate*	The annual coupon 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.
*frequency*	The number of interest payments per year. The possible values are: 1 for annual payments, 2 for semiannual payments, 4 for quarterly payments.
*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.
*calc_method*	A logical value that specifies the way to calculate the accrued interest when the *settlement* date is later than the *first_interest* date. It is an optional argument. TRUE (1) returns the accrued interest from *issue* to *settlement. FALSE (0) returns the accrued interest from first_interest* to *settlement*. If the argument is omitted, TRUE is used by default.

The basis argument can be one of the following:

Dates must be entered by using the DATE function.

How to apply the ACCRINT function.

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

ACCRINT Function

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