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.

Settlement is a date or a reference to a cell containing that date which is the date at which the interest accrued up until then is to be calculated.

Rate is a positive real number (expressed as a percentage or fraction) 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.

Note pin.svg

We recommend that you always specify the value that you require for ACCRINT’s Par argument, rather than allowing Calc to apply an arbitrary default. This will make your formula easier to understand and easier to maintain.


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).

Frequency Frequency
1 Annual
2 Semiannual
4 Quarterly

Basis is a positive integer from 0 to 4 or a reference to a cell containing that integer which is chosen from a list of options and indicates how the year is to be calculated. For more 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 are not valid dates then the function returns a value (#VALUE!) error. For more details on date input, visit help page.
  • If either Rate or Par is less than or equal to 0 then the function will return an error value.
  • If the Issue date is after the Settlement date then the function returns an error value.
  • If either Frequency or Basis is a non-integer value, then the function uses its floor value, i.e. it is truncated to an integer value.
  • After truncation if Frequency is any number except 1,2 or 4, then the function returns an error value.
  • After truncation if Basis is any number except 0,1,2,3,4 or missing(passed as empty argument or not passed at all),then the function will return an error value.
  • This function does not use FirstInterest argument in the calculation of the accrued interest. However, it must be present and a valid date.
  • This function does not currently support the calc_method argument and the monthly (12) option for the frequency argument as per the ODF standard. Also, we do not impose the restriction that FirstInterest should lie between Issue and Settlement.

Additional details:

  • The formula for ACCRINT is:
Accrint updates.png
  • For more detail on accrued interest, visit Wikipedia.

Examples:

Formula Description Returns
=ACCRINT("2001-02-28";"2001-08-31";"2001-05-01";0.1;1500;2;4) The function calculates how much interest has been accrued for a security issued on 2001-02-28. The first interest is set for 2001-08-31. The settlement date is 2001-05-01. The rate is 0.1 or 10% and par is 1500 currency units. Interest is paid half-yearly (frequency is 2). The basis is the European method (4). 26.25
=ACCRINT("2001-02-28";"2001-08-31";"2001-05-01";0.1;1500;2;) The function calculates how much interest has been accrued for a security issued on 2001-02-28. The first interest is set for 2001-08-31. The settlement date is 2001-05-01. The rate is 0.1 or 10% and par is 1500 currency units. Interest is paid half-yearly (frequency is 2). The basis is the US method (0) whenever either empty or no argument is passed. 25.4166666666667
=ACCRINT("2001-02-28";"2001-08-31";"2001-05-01";0.1;;2;4) The function calculates how much interest has been accrued for a security issued on 2001-02-28. The first interest is set for 2001-08-31. The settlement date is 2001-05-01. The rate is 0.1 or 10% and par is 1000(by default) currency units. Interest is paid half-yearly (frequency is 2). The basis is the European method (4). 17.5
=ACCRINT("2001-02-28.5";"2001-08-31";"2001-05-01";0.1;1500;2;4) The function returns a value error if either of Issue, FirstInterest or Settlement contains a non-valid date. #VALUE!
=ACCRINT(3,4,5,0.1,1500,2,4) The function calculates how much interest has been accrued for a security issued on date sequence number 3. The first interest is set for date sequence number 4. The settlement date is date sequence number 5. The rate is 0.1 or 10% and par is 1500 currency units. Interest is paid half-yearly (frequency is 2). The basis is the European method (4). 0.833333333333333
=ACCRINT("2002-02-28";"2001-08-31";"2001-05-01";0.1;1500;2;4) The function returns an error value since Issue date is greater than Settlement date. Err:502

Related LibreOffice functions:

ACCRINTM

ODF standard:

Section 6.12.2, part 2

Equivalent Excel functions:

ACCRINT