Using the ACCRINT function with only the required arguments:
See also the ACCRINTM function for a security that pays interest at maturity (i.e. zero coupon bonds).
Using the ACCRINT function with the optional arguments:
|issue||Required||The security's issue date.|
|first_interest||Required||The security's first interest date.|
|settlement||Required||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||Required||The security's annual coupon rate.|
|par||Required||The security's par value. If you omit par, ACCRINT uses $1,000.|
|frequency||Required||The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.|
|basis||Optional||The type of day count basis to use.|
|calc_method||Optional||A logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first_interest.|
NC = number of quasi-coupon periods that fit in odd period. If this number contains a fraction, raise it to the next whole number.
Ai = number of accrued days for the ith quasi-coupon period within odd period.
NLi = normal length in days of the ith quasi-coupon period within odd period.
A few more things:
|• Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2014 is serial number 41640 because it is 41,640 days after January 1, 1900.|
|• issue, first_interest, settlement, frequency, and basis are truncated to integers.|
|• If issue, first_interest, or settlement is not a valid date, ACCRINT returns the #VALUE! error value.|
|• If rate ≤ 0 or if par ≤ 0, ACCRINT returns the #NUM! error value.|
|• If frequency is any number other than 1, 2, or 4, ACCRINT returns the #NUM! error value.|
|• If basis < 0 or if basis > 4, ACCRINT returns the #NUM! error value.|
|• If issue ≥ settlement, ACCRINT returns the #NUM! error value.|