The document discusses the ACCRINT Excel function which calculates accrued interest for a security paying periodic interest. It lists the function arguments including issue date, first interest date, settlement date, rate, par value, payment frequency, and optional basis and calculation method arguments. An example calculation is provided for a security issued January 1, 2018 with first interest on April 1, 2018, settling on December 31, 2019 with an 8% annual coupon paid quarterly on a 30/360 basis.

1. EXCEL
FUNCTIONS:
ACCRINT
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2. EXCEL FUNCTIONS
Excel Functions
Financial Logical Text Date &
Time
Lookup &
Reference Math & Trig Statistics Engineering Information
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3. FINANCIAL FUNCTIONS STARTING WITH THE LETTER
A
Financial
Functions
ACCRINT ACCRINTM AMORDEGRC AMORLINC
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4. ACCRINT
FUNCTION
DESCRIPTION
& SYNTAX
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ACCRINT returns the accrued interest for
a security that pays periodic interest.
Issue, first_interest, settlement, rate, par,
frequency, [basis], [calc_method]
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5. THE
ARGUMENTS
OF ACCRINT
FUNCTION
AS
FOLLOWS:
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Argument Meaning
Issue The issue date of the security
First_Interest The security’s first interest date
Settlement The security’s settlement date
Rate The security’s annual coupon rate
[Par] The security’s par value
If omitted, [par] takes the default value of 1,000
Frequency The number of coupon payments per year (Must equal to 1, 2, or 4)
[Basis] An optional argument, that specifies the day count basis to be used in the calculation.
Possible value of [basis] and their meaning are:
[basis] = Day Count Basis
0 (or omitted) = US (NASD) 30/360
1 = actual/actual
2 = actual/360
3 = actual/365
4 = European 30/360
[Calc_method] An optional logical value that specifies the way to calculate the total accrued interest
when the settlement date is later than the first_interest date.
This can have the value TRUE or FLASE, meaning:
TRUE: returns the total accrued interest from issue to settlement
FALSE: returns the accrued interest from first_issue to settlement
If omitted, [Calc_method] takes the default value of TRUE.
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6. ACCRINT
FUNCTION
EXAMPLE
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Accrued interest on a security with an issue date of 01-Jan-
2018
A first interest date of 01-Apr-2018
A settlement date of 31-Dec-2019
The annual coupon rate is 8%,
The par value of the security is $10,000
Payments are made quarterly, on a US (NASD) 30 / 360 basis
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