ACCRINT ( issue , first-interest , settlement , rate , [ par ] , frequency [ , [ basis ] ] )
Description: Computes the accrued interest for a security that pays periodic interest.
Mathematical Formula:
where:
Ai = number of accrued days for the ith quasi-coupon period within odd period.
NC = number of quasi-coupon periods that fit in odd period. If this number contains a fraction, raise it to the next whole number.
NLi = normal length in days of the ith quasi-coupon period within odd period.
Arguments:
|
Name |
Type |
Description | ||||||||||||
|
issue |
number |
The security's issue date. | ||||||||||||
|
first-interest |
number |
The security's first interest date. | ||||||||||||
|
settlement |
number |
The security's settlement date. | ||||||||||||
|
rate |
number |
The security's annual coupon rate. | ||||||||||||
|
par |
number |
The security's par value. If omitted, 1,000 is used. | ||||||||||||
|
frequency |
number |
The number of coupon payments per year. For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4. frequency is truncated to an integer. | ||||||||||||
|
basis |
number |
The truncated integer type of day count basis to use, as follows:
|
Time information in the date arguments is ignored.
Return Type and Value: number – The accrued interest for a security that pays periodic interest.
However, if
• issue, first-interest, or settlement is out of range for the current date base value, #NUM! is returned
• issue ≥ settlement, #NUM! is returned
• rate or par ≤ 0, #NUM! is returned
• frequency is any number other than 1, 2, or 4, #NUM! is returned
• basis < 0 or basis > 4, #NUM! is returned
[Example:
ACCRINT(DATE(2006,3,1),DATE(2006,9,1),DATE(2006,5,1),0.1,1100,2,0) results in 18.33
ACCRINT(DATE(2006,3,1),DATE(2006,9,1),DATE(2006,5,1),0.1,,2,0) results in 16.67
end example]