ACCRINTM
For a security paying interest only at maturity, how much interest it has built up by settlement.
Group: Financial. Compatible with DAX.
Syntax
ACCRINTM ( <issue>, <maturity>, <rate>, <par> [, <basis>] )| Parameter | Type | Description |
|---|---|---|
issue | Date | The day the security was issued and began to earn interest. |
maturity | Date | The day the security matures and pays all its interest. |
rate | Number | The interest rate a year, as a decimal. |
par | Number | The face value the interest is paid on. |
basis | Whole number optional | The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4). |
Returns
Number. The interest due at maturity, in the currency of par.
Remarks
- It is simple interest: par × rate × the fraction of a year from the issue to maturity on the day count chosen, with nothing compounded.
- The second date may be any day after the issue: give a settlement date to learn the interest earned so far.
- An issue date on or after the second date, or a rate or par of 0 or less, is an error.
- The dates are taken as whole days. basis is rounded to a whole number first; outside 0 to 4 it is an error.
Examples
A six-month note on three day counts
250,000 at 3.5 % from 1 May to 1 November: 180 days on 30/360, 184 actual days otherwise.
EVALUATE
ROW (
"30/360", ACCRINTM ( DATE ( 2026, 5, 1 ), DATE ( 2026, 11, 1 ), 0.035, 250000, 0 ),
"Actual/360", ACCRINTM ( DATE ( 2026, 5, 1 ), DATE ( 2026, 11, 1 ), 0.035, 250000, 2 ),
"Actual/365", ACCRINTM ( DATE ( 2026, 5, 1 ), DATE ( 2026, 11, 1 ), 0.035, 250000, 3 )
)| 30/360 | Actual/360 | Actual/365 |
|---|---|---|
| 4375 | 4472.22222222222 | 4410.95890410959 |