ACCRINTM ( issue , settlement , rate , [ [ par ] [ , [ basis ] ] ] )
Description: Computes the accrued interest for a security that pays interest at maturity.
Mathematical Formula:
where:
A = Number of accrued days counted according to a monthly basis. For interest at maturity items, the number of days from the issue date to the maturity date is used.
D = Annual Year Basis.
Arguments:
|
Name |
Type |
Description | ||||||||||||
|
issue |
number |
The security's issue 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. | ||||||||||||
|
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 interest at maturity.
However, if
• issue 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
• basis < 0 or basis > 4, #NUM! is returned
[Example:
ACCRINTM(DATE(2006,3,1),DATE(2006,5,1),0.1,1100,0) results in 18.33333333
ACCRINTM(DATE(2006,3,1),DATE(2006,5,1),0.1,,0) results in 16.66666667
ACCRINTM(DATE(2006,3,1),DATE(2006,5,1),0.1,) results in 16.66666667
end example]