ACCRINTM
Syntax:
ACCRINTM ( issue , settlement , rate , [ [ par ] [ , [ basis ] ] ] )
Description: Computes the accrued interest for a security that pays interest at maturity.
Mathematical Formula:
where:
A = Number of accrued days counted according to a monthly basis. For interest at maturity items, the number of days from the issue date to the maturity date is used.D = Annual Year Basis.
Arguments:
Name |
Type |
Description |
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issue |
number |
The security's issue 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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basis |
number |
The truncated integer type of day count basis to use, as follows:
|
Time information in the date arguments is ignored.
Return Type and Value: number – The accrued interest for a security that pays interest at maturity.
However, if
issue or settlement is out of range for the current date base value,
#NUM!
is returnedissue ≥ settlement,
#NUM!
is returnedrate or par ≤ 0,
#NUM!
is returnedbasis < 0 or basis > 4,
#NUM!
is returned