Description
To calculate the accrued interest for a stock/bond or other security that pays interest at maturity
Syntax
ACCRINTM(issue, settlement, rate, par, [basis])
- Issue: when the security was issues. Date is in entered as DATE() function or a sequential serial number ex: 8/29/2001 is 44437
- Settlement: maturity date
- rate: annual coupon rate
- par: par value of security; if blank then defaults at $1000
- [basis]: 5 types of day counts; this is optional
Basis consists of 5 options below:
Examples
Lets calculate its accrued interest at maturity. Below are the the examples and their results:
References
Check out similar function ACCRINT(), which calculates accrued interest with periodic interest.