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#Financial

ACCRINTM

Excel Functions

Get accrued interest at maturity

Syntax

EXCEL 
=ACCRINTM(id, sd, rate, par, [basis])

Arguments

Parameter Description
id Issue date of the security.
sd Settlement date of the security.
rate Annual coupon rate.
par Par value of security.
basis [optional] Day count basis (see below, default =0).

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 ACCRINTM function can be used to calculate accrued interest for a bond that pays periodic at maturity (i.e. only pays interest one time). By default, ACCRINTM will calculate accrued interest from the issue date to the settlement date. If you want to calculate total interest from the issue date to the maturity date, supply maturity date instead of settlement date. In the example shown, we want to calculate accrued interest for a bond with a 5% coupon rate. The issue date is 5-Apr-2016, the settlement date is 1-Feb-2019, and maturity date is 15-Apr-2026. We want accr

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-2016, the settlement date is 1-F

EXCEL 
=ACCRINTM(C7,C8,C6,C5,C10)
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 
=ACCRINTM(DATE(2016,4,5),DATE(2019,2,1),0.05,1000,0)

See Also

ACCRINT