Kornilios Ampatzis/ April 22, 2019/ Functions

It calculates the accrued interest for a security that pays interest at maturity.

The syntax of the function is the following:

ACCRINTM(issue, settlement, rate, par, [basis])

issue: The issue date of the security.
settlement: The maturity date of the security.
rate: The annual coupon rate of the security
par: The security’s par value.
[basis]: Optional. The type of day count basis (default is 0).

If the dates entered are not valid dates the function returns a #VALUE! error.

If rate or par are less than or equal to zero the #NUM! error is returned.

If basis is not inside the valid values (between 0 and 4) the #NUM! error is returned.

If the settlement date is before the issue date the #NUM! error is returned

Click on the button to practice using this function, with the help of our Online Assessment Tool:

Practice

Here is an example of how to use the ACCRINTM function:

In the cell C2, use the proper formula to calculate the accrued interest for a security that pays interest at maturity. All the information you need is displayed in the current worksheet.

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