ACCRINT
Syntax:
ACCRINT ( issue , first-interest , settlement , rate , [ par ] , frequency [ , [ basis ] ] )
Description: Computes the accrued interest for a security that pays periodic interest.
Mathematical Formula:
where:
Ai = number of accrued days for the ith quasi-coupon period within odd period.NC = number of quasi-coupon periods that fit in odd period. If this number contains a fraction, raise it to the next whole number.NLi = normal length in days of the ith quasi-coupon period within odd period.
Arguments:
Name |
Type |
Description |
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issue |
number |
The security's issue date. |
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first-interest |
number |
The security's first interest date. |
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settlement |
number |
The security's settlement date. |
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rate |
number |
The security's annual coupon rate. |
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par |
number |
The security's par value. If omitted, 1,000 is used. |
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frequency |
number |
The number of coupon payments per year. For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4. frequency is truncated to an integer. |
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basis |
number |
The truncated integer type of day count basis to use, as follows:
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Time information in the date arguments is ignored.
Return Type and Value: number – The accrued interest for a security that pays periodic interest.
However, if
issue, first-interest, or settlement is out of range for the current date base value,
#NUM!
is returnedissue ≥ settlement,
#NUM!
is returnedrate or par ≤ 0,
#NUM!
is returnedfrequency is any number other than 1, 2, or 4,
#NUM!
is returnedbasis < 0 or basis > 4,
#NUM!
is returned