# Documentation/Calc Functions/ACCRINT

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## Function name:

ACCRINT

## Category:

Financial Analysis

## Summary:

Calculates the accrued interest of a security in the case of periodic payments.

## Syntax:

ACCRINT(**Issue**; **First Interest**; **Settlement**; **Rate**; **Par**; **Frequency**; **Basis**)

## Returns:

## Arguments:

**Issue** (required) is the issue date of the security.

**First Interest** (required) is the first interest date of the security.

**Settlement** (required) is the date at which the interest accrued up until then is to be calculated.

**Rate** (required) is the annual nominal rate of interest (coupon interest rate)

**Par** (optional) is the par value of the security.

**Frequency** (required) is the number of interest payments per year (1, 2 or 4).

**Basis** (optional) is chosen from a list of options and indicates how the year is to be calculated.

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 |

## Additional details:

## Examples:

A security is issued on 2001-02-28. 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 currency units. Interest is paid half-yearly (frequency is 2). The basis is the US method (0). How much interest has accrued?

=ACCRINT("2001-02-28";"2001-08-31";"2001-05-01";0.1;1000;2;0) returns 16.94444.