Microsoft Office Tutorials and References
In Depth Information
ACCRINT
ACCRINT
ACCRINT returns accrued interest for securities that pay periodic interest.
=ACCRINT(issue,first_interest,settlement,rate,par,frequency,basis)
The ACCRINT function is found only if the Analysis Toolpak is installed. It must be turned on
using the Add-Ins command on the Tools menu. Notice the example in Figure 6.1. The
example is setup with cell referencing so that you can make adjustments to dates, percentages, par
values, and so on. By using cell referencing instead of applying the dates in the formula, your
formula becomes more flexible.
The date of the security issue.
ISSUE
The first interest date of the security.
FIRST INTEREST
The security settlement date is the date the security is traded to
the buyer after the issue date.
SETTLEMENT
The annual coupon rate of the security.
RATE
The securities par value. If you omit par, ACCRINT uses the
default of $1,000.
PAR
The number of payments per year. Quarterly is 4, semiannually
is 2, and annually is 1.
FREQUENCY
The day count basis to use. If omitted, the function uses 0. Refer
to Figure 6.1 for a list of choices.
BASIS
The ACCRINT formula is calculated as:
Figure 6.1
The ACCRINT function
returns the interest for
a security that pays
interest periodically.
A
The function
built with cell
referencing
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