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#Financial

ACCRINT

Excel Functions

Get accrued interest periodic

Syntax

EXCEL 
=ACCRINT(id, fd, sd, rate, par, freq, [basis], [calc])

Arguments

Parameter Description
id Issue date of the security.
fd First interest date of security.
sd Settlement date of security.
rate Interest rate of security.
par Par value of security.
freq Coupon payments per year (annual = 1, semiannual = 2; quarterly = 4).
basis [optional] Day count basis (see below, default =0).
calc [optional] Calculation method (see below, default = TRUE).

Return Value

Accrued interest

Details

In finance, bonds prices are quoted "clean". The "clean price" of a bond excludes any interest accrued since the issue date or most recent coupon payment. The "dirty price" of a bond is the price including accrued interest. The ACCRINT function can be used to calculate accrued interest for a security that pays periodic interest, but pay attention to date configuration. By default, ACCRINT will calculate accrued interest from the issue date. If the settlement date is in the first period, this works. However, if the settlement date is not in the first period, you probably don't want total accrued interest from the issue date but rather accrued interest from the last interest date (previous coupon date). As a workaround, based on the article here: Note: According to Microsoft documentation, c

Examples

Example

In the example shown, we want to calculate accrued interest for a bond with a 5% coupon rate. The issue date is 5-Apr-2018, the settlement date is 1-F

EXCEL 
=ACCRINT(C9,C9,C8,C6,C5,C12,C13,TRUE)
Entering dates

In Excel, dates are serial numbers. Generally, the best way to enter valid dates is to use cell references, as shown in the example. To enter valid da

EXCEL 
=ACCRINT(DATE(2018,10,15),DATE(2018,10,15),DATE(2019,2,1),0.05,1000,2,0,TRUE)

See Also

ACCRINTM