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:
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.