Calculates the accrued interest of a security in the case of one-off payment at the settlement date.
ACCRINTM(Issue; Settlement; Rate; Par; Basis)
Issue (required) is the issue 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.
Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.
|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|
A security is issued on 2001-04-01. The maturity date is set for 2001-06-15. The Rate is 0.1 or 10% and Par is 1000 currency units. The basis of the daily/annual calculation is the daily balance (3). How much interest has accrued?
=ACCRINTM("2001-04-01";"2001-06-15";0.1;1000;3) returns 20.54795.