# Documentation/Calc Functions/ACCRINTM

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## 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 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.

**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 either of
**Issue**or**Settlement**are not valid dates then the function returns a value (#VALUE!) error. - If
**Basis**is non-integer values, then the function uses its floor value, i.e. it is truncated to an integer value.

The function reports an invalid argument error (Err:502) if:

- either
**Rate**or**Par**is less than or equal to 0; - the
**Issue**date is equal or after the**Settlement**date; - after truncation
**Basis**is a number different 0,1,2,3,4.

## Additional details:

- The formula for ACCRINTM is:

- This function doesn't strictly follow ODF section, since
**Par**is an optional argument here. - For more detail on accrued interest, visit Wikipedia.

## Examples:

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

=ACCRINTM("2001-04-01";"2001-06-15";0.1;1500;3) | The function calculates how much interest has been accrued for a security issued on 2001-04-01. The maturity date is set for 2001-06-15. The Rate is 0.1 or 10% and Par is 1500 currency units. The basis used is option 3 (exact number of days in month, year has 365 days). | 30.8219178082192 |

=ACCRINTM("2001-04-01";"2001-06-15";10%;1500;) | The function calculates how much interest has been accrued for a security issued on 2001-04-01. The maturity date is set for 2001-06-15. The Rate is 10% and Par is 1500 currency units. The basis used is option 0 (US method (NASD), 12 months of 30 days each) whenever either empty or no argument is passed. | 30.8333333333333 |

=ACCRINTM(3,5,0.1) | The function calculates how much interest has been accrued for a security issued on date sequence number 3. The maturity date is set for date sequence number 5. The Rate is 0.1 or 10% and Par is 1000 currency units (by default). The basis used is option 0 (US method (NASD), 12 months of 30 days each). | 0.555555555555556 |

=ACCRINTM(DATE(2001,4,1);"2001-06-15";0.1;;3) | The function calculates how much interest has been accrued for a security 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 (by default) currency units. The basis used is option 3 (exact number of days in month, year has 365 days). | 20.5479452054794 |

=ACCRINTM("2002.5-04-01";"2001-06-15";0.1;1500;4) | The function returns a value error if either of Issue or Settlement contains a non-valid date. |
#VALUE! |

=ACCRINTM(DATE(2001,4,1);"2001-06-15";0.1;;3.7) | The function calculates how much interest has been accrued for a security 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 (by default) currency units. The basis used is option 3 (exact number of days in month, year has 365 days), after truncating 3.7 to 3. | 20.5479452054794 |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

ACCRINTM