Difference between revisions of "Manuals/calci/ACCRINT"
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| − | + | =ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method)= | |
| − | + | *where, <math>issue</math> is the security's issue date (a date when coupon or a bond is issued) | |
| + | *<math>FI</math> is the first interest date | ||
| + | *<math>settlement</math> is the security's settlement date (a date when coupon or a bond is purchased) | ||
| + | *<math>rate</math> is the security's annual coupon rate | ||
| + | *<math>par</math> is the security's par value | ||
| + | *<math>frequency</math> is the number of coupon payments per year | ||
| + | *<math>basis</math> is the type of day count basis to use | ||
| + | *<math>method</math> a logical value that specifies how to calculate total accrued interest when settlement is later than first interest date. | ||
| − | + | ACCRINT() calculates the accrued interest for the security that pays periodic interest. | |
| − | + | == Description == | |
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| − | + | ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method) | |
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| − | < | + | *Accrued interest is the interest accumulated on a bond since the last interest payment up to, but not including, the settlement date. |
| + | *<math>settlement</math> is the date after issue date when security or bond is purchased by customer. | ||
| + | *<math>issue</math>, <math>FI</math> and <math>settlement</math> dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message. | ||
| + | *If <math>issue</math> >= <math>settlement</math>, Calci displays #NUM error message. | ||
| + | *If <math>par</math> is omitted, Calci assumes value as $1,000. | ||
| + | *If <math>rate</math> <=0 or <math>par</math> <=0, Calci displays #NUM error message. | ||
| + | *The values for 'frequency' should be 1,2 or 4. | ||
| + | For Annual payment, frequency = 1, | ||
| − | + | For Semi-annual payment, frequency = 2, | |
| − | + | For Quarterly payment, frequency = 4. | |
| − | |||
| − | + | *'basis' value is optional. If omitted, Calci assumes it to be 0. | |
| + | Below table shows the use of 'basis' values: | ||
| − | + | {| class="wikitable" | |
| − | ---- | + | |- |
| − | + | ! Basis !! Description | |
| + | |- | ||
| + | | 0 || US (NASD) 30/360 | ||
| + | |- | ||
| + | | 1 || Actual/actual | ||
| + | |- | ||
| + | | 2 || Actual/360 | ||
| + | |- | ||
| + | | 3 || Actual/365 | ||
| + | |- | ||
| + | | 4 || European 30/365 | ||
| + | |} | ||
| − | + | *If 'basis' value is other than 0 to 4, Calci displays #N/A error message. | |
| + | *<math>method</math> can be TRUE or FALSE. If omitted, Calci assumes it to be TRUE. | ||
| + | *If <math>method</math> = TRUE, it calculates total accrued interest from issue to settlement. | ||
| + | *If <math>method</math> = FALSE, it calculates total accrued interest from first interest to settlement. | ||
| − | + | == Examples == | |
| − | |||
| − | |||
| − | + | Consider the following example that shows the use of DURATION function: | |
| − | < | + | <div id="2SpaceContent" class="zcontent" align="left"> |
| − | + | {| id="TABLE3" class="SpreadSheet blue" | |
| + | |- class="even" | ||
| + | | class="sshl_f" | 4/1/2010 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="odd" | |
| + | | class="sshl_f" | 10/31/2010 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="even" | |
| + | | class="sshl_f" | 6/1/2010 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="odd" | |
| + | | class="sshl_f" | 20% | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="even" | |
| + | | class="sshl_f" | 500 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="odd" | |
| + | | class="sshl_f" | 2 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="even" | |
| + | | class="sshl_f" | 0 | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| − | + | |- class="odd" | |
| + | | class=" " | | ||
| + | | class=" " | | ||
| + | | class=" " | | ||
| + | |} | ||
| − | + | =DURATION(A1,A2,A3,A4,A5,A6,A7) ''displays 16.667'' as a result. | |
| + | =DURATION(DATE(2010,3,5),A2,A3,A4,A5,A6,A7,FALSE) ''displays 23.889'' as a result. | ||
| − | + | == See Also == | |
| − | + | *[[Manuals/calci/DURATION | DURATION]] | |
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| − | + | == References == | |
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| − | + | *[http://en.wikipedia.org/wiki/Accrued_interest Accrued Interest] | |
| − | + | *[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis] | |
Revision as of 17:40, 2 January 2014
ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method)
- where, is the security's issue date (a date when coupon or a bond is issued)
- is the first interest date
- is the security's settlement date (a date when coupon or a bond is purchased)
- is the security's annual coupon rate
- is the security's par value
- is the number of coupon payments per year
- is the type of day count basis to use
- a logical value that specifies how to calculate total accrued interest when settlement is later than first interest date.
is the security's issue date (a date when coupon or a bond is issued)
is the first interest date
is the security's settlement date (a date when coupon or a bond is purchased)
is the security's annual coupon rate
is the security's par value
is the number of coupon payments per year
is the type of day count basis to use
a logical value that specifies how to calculate total accrued interest when settlement is later than first interest date.ACCRINT() calculates the accrued interest for the security that pays periodic interest.
Description
ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method)
- Accrued interest is the interest accumulated on a bond since the last interest payment up to, but not including, the settlement date.
- is the date after issue date when security or bond is purchased by customer.
- , and dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
- If >= , Calci displays #NUM error message.
- If is omitted, Calci assumes value as $1,000.
- If <=0 or <=0, Calci displays #NUM error message.
- The values for 'frequency' should be 1,2 or 4.
For Annual payment, frequency = 1,
For Semi-annual payment, frequency = 2,
For Quarterly payment, frequency = 4.
- 'basis' value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of 'basis' values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/365 |
- If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
- can be TRUE or FALSE. If omitted, Calci assumes it to be TRUE.
- If = TRUE, it calculates total accrued interest from issue to settlement.
- If = FALSE, it calculates total accrued interest from first interest to settlement.
Examples
Consider the following example that shows the use of DURATION function:
| 4/1/2010 | ||
| 10/31/2010 | ||
| 6/1/2010 | ||
| 20% | ||
| 500 | ||
| 2 | ||
| 0 | ||
=DURATION(A1,A2,A3,A4,A5,A6,A7) displays 16.667 as a result. =DURATION(DATE(2010,3,5),A2,A3,A4,A5,A6,A7,FALSE) displays 23.889 as a result.