Formulas and Functions

Table Of Contents

Â par: The face (par) or maturity value of the security. par is a number value. If

omitted (comma, but no value), par is assumed to be 1000.

Â days-basis: An optional argument specifying the number of days per month and

days per year used in the calculations.

30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD

method for dates falling on the 31st of a month.

actual/actual (1): Actual days in each month, actual days in each year.

actual/360 (2): Actual days in each month, 360 days in a year.

actual/365 (3): Actual days in each month, 365 days in a year.

30E/360 (4): 30 days in a month, 360 days in a year, using the European method for

dates falling on the 31st of a month (European 30/360).

Usage Notes

Use ACCRINT for a security that pays periodic interest. Â

Example

Assume you are considering the purchase of the hypothetical security described by the values listed.

This security pays interest only at maturity.

You could use the ACCRINTM function to determine the amount of accrued interest that would be

added to the purchase/sale price. The function evaluates to approximately $138.06, which represents

the interest accrued between the issue date and the settlement date.

issue settle annual-rate par days-basis

=ACCRINTM(B2,

C2, D2, E2, F2)

12/14/2007 05/01/2009 0.10 1000 0