Excel like a finance pro.
Financial function
ACCRINT
Returns accrued interest for a security that pays periodic interest.
When to use it
Accrued interest on a security that pays periodic interest, from the issue or last coupon date to settlement.
The shape of it
- Syntax
=ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis])
Worked examples
Two months accrued
=ACCRINT(DATE(2008,3,1),DATE(2008,8,31),DATE(2008,5,1),0.1,1000,2,0) → 16.67
Two months of a 10% coupon on 1,000.
A quarter
=ACCRINT(DATE(2025,1,1),DATE(2025,7,1),DATE(2025,4,1),0.06,1000,2,0) → 15
Three months (90 of 360 days) at 6% on 1,000.
Full coupon period
=ACCRINT(DATE(2025,1,1),DATE(2025,7,1),DATE(2025,7,1),0.06,1000,2,0) → 30
A full half-year coupon.
Worth knowing
- Dirty price = clean price + accrued interest.
- Basis 0 (30/360) for US corporates, 1 for Treasuries.
- The first_interest date sets the coupon cycle.
Where it goes wrong
- #NUM! when settlement is before issue.
- Text dates return #VALUE!.
Related
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