ACCRINT

Calculates the accrued interest for a security with periodic interest payments.

Syntax:

ACCRINT(issue, first_interest, settlement, rate, par, frequency, basis)

issue: the issue date of the security.

first_interest: the first interest date of the security.

settlement: the date at which the interest accrued up until then is to be calculated.

rate: the annual nominal rate of interest (coupon interest rate)

par: the par value of the security.

frequency: the number of interest payments per year (1, 2 or 4).

basis: is chosen from a list of options and indicates how the year is to be calculated. Defaults to 0 if omitted.

0 - US method (NASD), 12 months of 30 days each

1 - Exact number of days in months, exact number of days in year

2 - Exact number of days in month, year has 360 days

3 - Exact number of days in month, year has 365 days

4 - European method, 12 months of 30 days each

Example:

ACCRINT("2001-2-28", "2001-8-31", "2001-5-1", 0.1, 1000, 2, 0)

returns approximately 16.94444.