ACCRINT
Description
Returns the accrued interest for a security that pays periodic interest.
Syntax
ACCRINT(
issue
,
first_interest
,
settlement
,
rate
, [
par
],
frequency
, [
basis
], [
calc_method
])
- issue: The security's issue date.
- first_interest: The security's first interest date.
- settlement: The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
- rate: The security's annual coupon rate.
- par: The security's par value (principal to pay). If you omit par, ACCRINT uses $1,000.
- frequency: The number of coupon payments per year. 1 = annual; 2 = semiannual; 4 = quarterly.
- basis: The financial day count to use, shown here using x/y where x = days per month and y = days per year. 0 or Empty = US NASD 30/360; 1 = actual/actual; 2 = actual/360; 3 = actual/365; 4 = European 30/360.
- calc_method: The logical value that specifies how to calculate the total accrued interest when the settlement date is later than the first_interest date. A value of TRUE (1) returns the total accrued interest from issue to settlement. A value of FALSE (0) returns the accrued interest from first_interest to settlement. If you do not enter the argument, it defaults to TRUE.