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Excel ACCRINT Function

You are here: Home / Excel Formulas / Excel ACCRINT Function
Excel ACCRINT Function
June 30, 2013 by Mynda Treacy

The Excel ACCRINT function returns the accrued interest for a security that pays interest periodically.

The Syntax is:

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

The arguments can be explained as:

  • issue - the issue date of the security.
  • first_interest - the first date interest will be paid.
  • settlement - the settlement date of the security.
  • rate - the annual coupon rate for the security.
  • par - The security's par value. If this argument is left out, ACCRINT will assume $1,000.
  • frequency- The number of interest payments per year.  You can choose from the following:
    • 1 = annual payments
    • 2 = semi-annual payments
    • 4 = quarterly payments
  • basis– This argument is optional. The type of day count basis to use.
    • 0 or omitted = US (NASD) 30/360
    • 1 = Actual/actual
    • 2 = Actual/360
    • 3 = Actual/365
    • 4 = European 30/360
  • calc_method – The calculation method argument is optional. It tells Excel how you want to handle the total accrued interest when the date of settlement is later than the date of first_interest -It can be either:
    • 1 or TRUE returns the total accrued interest from issue to settlement.
    • 0 or FALSE returns the accrued interest from first_interest to settlement.
    • If you omit calc_method it defaults to TRUE.

Note: all arguments are required, except those with [square brakets] which are optional.

ACCRINT Formula Example

Excel ACCRINT Formulas

Tip: when entering dates it is always better to enter them using either:

  1. The DATE function as displayed in the second example above or,
  2. Reference cells containing a date or,
  3. As a result of another formula.

The syntax for the DATE function is:

DATE(year,month,day)
 

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Excel ACCRINT Function

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mynda treacy microsoft mvpHi, I'm Mynda Treacy and I run MOTH with my husband, Phil. Through our blog, webinars, YouTube channel and courses we hope we can help you learn Excel, Power Pivot and DAX, Power Query, Power BI, and Excel Dashboards.

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