# Documentation/Calc Functions/ACCRINT

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## Function name:

ACCRINT

## Category:

Financial Analysis

## Summary:

Calculates the accrued interest for a security with periodic interest payments.

## Syntax:

ACCRINT(**Issue**; **FirstInterest**; **Settlement**; **Rate**; [**Par**]; **Frequency**[; **Basis**])

## Returns:

Returns a positive real number which is the sum of the accrued interest in each coupon period from issue date until settlement date, expressed in the same currency units that were used for the security’s par value.

## Arguments:

**Issue** is a date, or a reference to a cell containing that date, which is the issue date of the security.

**FirstInterest** is a date, or a reference to a cell containing that date, which is the first interest date of the security. The function does not currently use the value of this argument in the calculation of the accrued interest. However, it must be present and represent a valid date.

**Settlement** is a date, or a reference to a cell containing that date, which is the date for which the interest accrued is to be calculated.

**Rate** is a positive real number (expressed as a percentage, such as 2.5%, or a decimal fraction, such as 0.025), or a reference to a cell containing that number, which is the annual nominal rate of interest (coupon rate).

**Par** is a positive real number, or a reference to a cell containing that number, which is the par value of the security. If **Par** is omitted, the function uses the value 1,000.

**Frequency** is a positive integer, or a reference to a cell containing that integer, which is the number of interest payments per year (1, 2 or 4).

**Basis** is an integer in the range 0 to 4, or a reference to a cell containing that integer, which indicates how the year is to be calculated. For more background information, visit Wikipedia's Day count convention page.

Basis | Calculation |
---|---|

0 or missing | US method (NASD), 12 months of 30 days each |

1 | Exact number of days in months, exact number of days in year. |

2 | Exact number of days in month, year has 360 days. |

3 | Exact number of days in month, year has 365 days. |

4 | European method, 12 months of 30 days each. |

- If any of
**Issue**,**FirstInterest**, or**Settlement**is not a valid date, then ACCRINT returns a #VALUE! error. - If either
**Rate**or**Frequency**is non-numeric, then ACCRINT reports a #VALUE! error. - If either
**Par**or**Basis**is non-numeric, then ACCRINT reports an invalid argument error (Err:502). - If the
**Issue**date is after the**Settlement**date, then ACCRINT reports an invalid argument error (Err:502). - If either
**Rate**or**Par**is less than or equal to 0, then ACCRINT reports an invalid argument error (Err:502). - If either of
**Frequency**or**Basis**is a non-integer value, then ACCRINT truncates it to an integer value. - If, after any truncation,
**Frequency**is not equal to 1, 2, or 4, then ACCRINT reports an invalid argument error (Err:502). - If, after any truncation,
**Basis**is not equal to 0, 1, 2, 3, or 4, then ACCRINT reports an invalid argument error (Err:502).

## Additional details:

- The formula for ACCRINT is:

- [math]\displaystyle{ ACCRINT~=~\left ( \frac{Rate\times Par}{Frequency} \right )\times \left ( \frac{Days~of~interest~earned}{Days~in~payment~period}\right ) }[/math]

- For more detail on accrued interest, visit Wikipedia's Accrued interest page.

- ACCRINT is not fully compliant with the functional definition in Section 6.12.2 of ODF 1.2, as follows:

- Calc's ACCRINT function does not currently support a
*calc_method*argument. - Calc's ACCRINT function does not currently support the 12 (monthly)
*Frequency*option. - Although Calc's ACCRINT function accepts a value for the
*FirstInterest*argument and checks that it is a valid date, its value is not currently used in the calculation of accrued interest. - Calc's ACCRINT function allows the user to include no value for the
**Par**argument.

- Calc's ACCRINT function does not currently support a

- Be aware that Excel does not support option 2 for the
**Basis**argument (actual number of days in month, 360 days in year). This difference may limit interoperability when you have a Calc spreadsheet containing AMORLINC calls (with**Basis**set to 2) that is later opened in Excel.

## Examples:

Formula | Description | Returns |
---|---|---|

=ACCRINT(A1; A2; A3; A4; A5; A6; A7) where cells A1 to A3 contain the dates 2001-02-28, 2001-08-31, and 2001-05-01 respectively; cells A4 to A7 contain the numbers 0.1, 1500, 2, and 4 respectively. | Here the function calculates how much interest has been accrued for a security issued on 2001-02-28 with a settlement date of 2001-05-01. The rate is 0.1 (10%) and par is 1500 currency units. Interest is paid half-yearly and the basis is the European method. | 26.25 |

=ACCRINT("2001-02-28"; "2001-08-31"; "2001-05-01"; 0.1; 1500; 2) | Here the function calculates how much interest has been accrued for a security issued on 2001-02-28 with a settlement date of 2001-05-01. The rate is 0.1 (10%) and par is 1500 currency units. Interest is paid half-yearly and since the final argument is omitted, the basis is the default US method. The change of basis leads to a different result to that in the previous example. Note that it is often good practice to utilize the DATE function instead of typing formatted date values - the formula `=ACCRINT(DATE(2001; 2; 28); DATE(2001, 8, 31); DATE(2001; 5; 1); 0.1; 1500; 2)` returns exactly the same result. |
25.4166666666667 |

=ACCRINT("2001-02-28"; "2021-08-31"; "2001-05-01"; 10%; ; 2; 4) | Here the function calculates how much interest has been accrued for a security issued on 2001-02-28 with a settlement date of 2001-05-01. The rate is 10% (0.1) and par assumes the deafult value of 1000 currency units. Interest is paid half-yearly and the basis is the European method. | 17.5 |

=ACCRINT(3; 4; 400; 0.1; 1500; 4; 4) | Here the function calculates how much interest has been accrued for a security using issue and settlement dates specified as date-time serial numbers. The rate is 0.1 (10%) and par is 1500 currency units. Interest is paid half-yearly and the basis is the European method. | 162.916666666667 |

## Related LibreOffice functions:

## ODF standard:

## Related (or similar) Excel functions:

ACCRINT