Excel Function – ACCRINTM()

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.