This post will guide you how to use Excel ACCRINT function with syntax and examples in Microsoft excel.

Description

The Excel ACCRINT function returns the accrued interest for a security that pays periodic interest.

The ACCRINT function is a build-in function in Microsoft Excel and it is categorized as a Financial Function.

The ACCRINT function is available in Excel 2016, Excel 2013, Excel 2010, Excel 2007,  Excel 2011 for Mac.

Syntax

The syntax of the ACCRINT function is as below:

= ACCRINT (issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

Where the ACCRINT function arguments are:

• Issue -This is a required argument. The security’s issue date.
• First_interest – This is a required argument.  The security’s first interest date.
• Sattlement – This is a required argument.  The security’s settlement date.
• Rate – This is a required argument.  The security’s annual coupon rate.
• Par – This is a required argument.  The par value of the security. Note: If Par is omitted, the default Par value will be set to $1000.
• Frequency – This is a required argument.  The frequency of the interest payments for the security. The following values can be set:

1	Annual payments
2	Semiannual payments
4	Quarterly

•  
  Basis – This is an optional argument.  The type of day count basis to use. The following values can be set:

Basis	Day count basis
0 or omitted	US (NASD) 30/360
1	Actual/actual
2	Actual/360
3	Actual/365
4	European 30/360

• Calc_method – This is an optional argument.  it can be set as the following values:

0	Returns the accrued interest from first interest date  to settlement date
1	Returns the accrued interest from issue_date to settlement_date

Excel ACCRINT Function Examples

The below examples will show you how to use Excel ACCRINT Function to return the accrued interest for a security that pays periodic interest.

#1 =ACCRINT(B1,B2,B3,B4,B5,B6,B7)

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