# Documentation/Calc Functions/ACCRINTM

TDF LibreOffice Document Liberation Project Community Blogs Weblate Nextcloud Redmine Ask LibreOffice Donate

## Function name:

ACCRINTM

## Category:

Financial Analysis

## Summary:

Calculates the accrued interest for a security that pays interest on maturity.

## Syntax:

ACCRINTM(**Issue**; **Settlement**; **Rate**[; **Par**[; **Basis**]])

## Returns:

Returns a positive real number which is the accrued interest, 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.

**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.

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

## Additional details:

- The formula for ACCRINTM is:

- [math]\displaystyle{ ACCRINTM~=~Rate\times Par\times \left ( \frac{Days~of~interest~earned}{Days~per~year} \right ) }[/math]

- For more detail on accrued interest, visit Wikipedia's Accrued interest page.
- ACCRINTM is not fully compliant with the functional definition in Section 6.12.3 of ODF 1.2 because it allows the user to include no value for the
**Par**argument. - 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 |
---|---|---|

=ACCRINTM(A1; A2; A3; A4; A5) where cells A1 and A2 contain the dates 2001-04-01 and 2001-06-15 respectively; cells A3 to A5 contain the numbers 0.1, 1500, and 3 respectively. | Here the function calculates how much interest has been accrued for a security issued on 2001-04-01 with a maturity date of 2001-06-15. The rate is 0.1 (10%) and par is 1500 currency units. The basis used is option 3. | 30.8219178082192 |

=ACCRINTM("2001-04-01"; "2001-06-15"; 10%; 1,500) | Here the function calculates how much interest has been accrued for a security issued on 2001-04-01 with a maturity date of 2001-06-15. The rate is 10% (0.1) and par is 1500 currency units. Since the final argument is omitted, the basis used 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 `=ACCRINTM(DATE(2001; 4; 1); DATE(2001, 6, 15); 10%; 1500)` returns exactly the same result. |
30.8333333333333 |

=ACCRINTM(3; 400; 0.1) | Here the function calculates how much interest has been accrued for a security using issue and maturity dates specified as date-time serial numbers. The rate is 0.1 (10%) and par is 1000 (by default) currency units. Since the final argument is omitted, the basis used is the default US method. | 108.611111111111 |

=ACCRINTM("2001-04-01"; "2001-06-15"; 0.1; ; 3.7) | Here the function calculates how much interest has been accrued for a security issued on 2001-04-01 with a maturity date of 2001-06-15. The rate is 0.1 (10%) and par is 1000 (by default) currency units. The basis value of 3.7 is truncated to 3 and so basis option 3 is used. Note that the formula `=ACCRINTM("2001-04-01"; "2001-06-15"; 0.1; ; 3)` returns the same value. |
20.5479452054794 |

## Related LibreOffice functions:

## ODF standard:

## Related (or similar) Excel functions:

ACCRINTM