Manuals/calci/ACCRINT

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

where, $Issue$ is the security's issue date (a date when coupon or a bond is issued)
$FirstInterest$ is the first interest date
$Settlement$ is the security's settlement date (a date when coupon or a bond is purchased)
$Rate$ is the security's annual coupon rate
$Par$ is the security's par value
$Frequency$ 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.
$Settlement$ is the date after issue date when security or bond is purchased by customer.
$Issue$ , $FirstInterest$ and $Settlement$ 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 $Issue$ >= $settlement$ , Calci displays #N/A error message.
If $Par$ is omitted, Calci displays #N/A error message.
If $Rate$ <=0 or $Par$ <=0, Calci displays #N/A 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.

Below table shows the use of $Basis$ values:

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

=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.