Documentation/Calc Functions/ACCRINT

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. The function does not use FirstInterest argument in the calculation of the accrued interest. However, it must be present and a valid date.

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.

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).


 * 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 Frequency or Basis is a non-integer value, then the function uses its floor value, i.e. it is truncated to an integer value.
 * 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.

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 after the Settlement date;
 * after truncation Frequency is any number different from 1,2 or 4;
 * after truncation Basis is any number different from 0,1,2,3,4.

Additional details:

 * The formula for ACCRINT is:


 * For more detail on accrued interest, visit Wikipedia.

Related LibreOffice functions:
[[Special:MyLanguage/Documentation/Calc_Functions/ACCRINTM ACCRINTM]

ODF standard:
Section 6.12.2, part 2

Equivalent Excel functions:
ACCRINT