Difference between revisions of "Manuals/calci/ACCRINT"

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=ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method)=
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<div style="font-size:25px">'''ACCRINT (Issue,FirstInterest,Settlement,Rate,Par,Frequency,Basis)'''</div><br/>
  
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*where, <math>issue</math> is the security's issue date (a date when coupon or a bond is issued)
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*where, <math>Issue</math> is the security's issue date (a date when coupon or a bond is issued)
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*<math>FI</math> is the first interest date
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*<math>FirstInterest</math> is the first interest date
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*<math>settlement</math> is the security's settlement date (a date when coupon or a bond is purchased)
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*<math>Settlement</math> is the security's settlement date (a date when coupon or a bond is purchased)
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*<math>rate</math> is the security's annual coupon rate
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*<math>Rate</math> is the security's annual coupon rate
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*<math>par</math> is the security's par value
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*<math>Par</math> is the security's par value
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*<math>frequency</math> is the number of coupon payments per year
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*<math>Frequency</math> is the number of coupon payments per year
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*<math>basis</math> is the type of day count basis to use
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*<math>Basis</math> is the type of day count basis to use
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*<math>method</math> a logical value that specifies how to calculate total accrued interest when settlement is later than first interest date.
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**ACCRINT() returns the accrued interest for a security that pays periodic interest.
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ACCRINT() calculates the accrued interest for the security that pays periodic interest.
 
  
 
== Description ==
 
== Description ==
  
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ACCRINT(issue, FI, settlement, rate, par, frequency, basis, method)
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ACCRINT (Issue,FirstInterest,Settlement,Rate,Par,Frequency,Basis)
  
 
*Accrued interest is the interest accumulated on a bond since the last interest payment up to, but not including, the settlement date.
 
*Accrued interest is the interest accumulated on a bond since the last interest payment up to, but not including, the settlement date.
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*<math>settlement</math> is the date after issue date when security or bond is purchased by customer.
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*<math>Settlement</math> is the date after issue date when security or bond is purchased by customer.
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*<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.
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*<math>Issue</math>, <math>FirstInterest</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.
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*If <math>issue</math> &gt;= <math>settlement</math>, Calci displays #N/A error message.
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*If <math>Issue</math> &gt;= <math>settlement</math>, Calci displays #N/A error message.
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*If <math>par</math> is omitted, Calci displays #N/A error message.
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*If <math>Par</math> is omitted, Calci displays #N/A error message.
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*If <math>rate</math> &lt;=0 or <math>par</math> &lt;=0, Calci displays #N/A error message.
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*If <math>Rate</math> &lt;=0 or <math>Par</math> &lt;=0, Calci displays #N/A error message.
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*The values for 'frequency' should be 1,2 or 4.  
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*The values for <math>Frequency</math> should be 1,2 or 4.  
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For Annual payment, frequency = 1,
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For Annual payment, Frequency = 1,
  
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For Semi-annual payment, frequency = 2,
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For Semi-annual payment, Frequency = 2,
  
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For Quarterly payment, frequency = 4.
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For Quarterly payment, Frequency = 4.
  
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*'basis' value is optional. If omitted, Calci assumes it to be 0.  
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*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.  
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Below table shows the use of 'basis' values:
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Below table shows the use of <math>Basis</math> values:
  
 
{| class="wikitable"
 
{| class="wikitable"
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|}
 
|}
  
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*If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
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*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
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*<math>method</math> can be TRUE or FALSE. If omitted, Calci assumes it to be TRUE.
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*If <math>method</math> = TRUE, it calculates total accrued interest from issue to settlement.
 
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*If <math>method</math> = FALSE, it calculates total accrued interest from first interest to settlement.
 
  
 
== Examples ==
 
== Examples ==
  
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Consider the following example that shows the use of DURATION function:
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Consider the following example that shows the use of ACCRINT function:
  
 
<div id="2SpaceContent" class="zcontent" align="left">
 
<div id="2SpaceContent" class="zcontent" align="left">
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  =ACCRINT(A1,A2,A3,A4,A5,A6,A7) ''displays 16.667'' as a result.
 
  =ACCRINT(A1,A2,A3,A4,A5,A6,A7) ''displays 16.667'' as a result.
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  =ACCRINT(DATE(2010,3,5),A2,A3,A4,A5,A6,A7,FALSE) ''displays 23.889'' as a result.
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  =ACCRINT(DATE(2010,3,5),A2,A3,A4,A5,A6,A7,FALSE) ''displays 23.88888888888889'' as a result.
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==Related Videos==
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{{#ev:youtube|v=Vdz76Op_qjg|280|center|ACCRINT}}
  
 
== See Also ==
 
== See Also ==
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*[http://en.wikipedia.org/wiki/Accrued_interest Accrued Interest]
 
*[http://en.wikipedia.org/wiki/Accrued_interest Accrued Interest]
 
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
 
*[http://en.wikipedia.org/wiki/Day_count_convention Day Count Basis]
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*[[Z_API_Functions | List of Main Z Functions]]
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*[[ Z3 |  Z3 home ]]

Latest revision as of 04:46, 18 November 2020

ACCRINT (Issue,FirstInterest,Settlement,Rate,Par,Frequency,Basis)


  • 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
    • ACCRINT() returns the accrued interest for a security that pays periodic interest.

Description

ACCRINT (Issue,FirstInterest,Settlement,Rate,Par,Frequency,Basis)

  • 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 #N/A error message.
  • If is omitted, Calci displays #N/A error message.
  • If <=0 or <=0, Calci displays #N/A error message.
  • The values for should be 1,2 or 4.

For Annual payment, Frequency = 1,

For Semi-annual payment, Frequency = 2,

For Quarterly payment, Frequency = 4.

  • value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/365
  • If value is other than 0 to 4, Calci displays #N/A error message.


Examples

Consider the following example that shows the use of ACCRINT function:

4/1/2010
10/31/2010
6/1/2010
20%
500
2
0 
=ACCRINT(A1,A2,A3,A4,A5,A6,A7) displays 16.667 as a result.
=ACCRINT(DATE(2010,3,5),A2,A3,A4,A5,A6,A7,FALSE) displays 23.88888888888889 as a result.

Related Videos

ACCRINT

See Also

References


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