# How to use ACCRINT function in excel

## Excel version in which ACCRINT function can work:

ACCRINT function works in Excel for Office 365 Excel for Office 365 for Mac Excel 2016 Excel 2013 Excel 2010 Excel 2007 Excel 2016 for Mac Excel for Mac 2011 Excel Online Excel for iPad Excel for iPhone Excel for Android tablets Excel for Android phones Excel Mobile Excel Starter 2010.

## About ACCRINT function in excel:

The Microsoft Excel ACCRINT is a financial function, which returns the accrued interest for a security that pays periodic interest. The ACCRINT function returns a numeric value.

## Syntax for ACCRINT Function:

=ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

## Parameters:

Issue [Required]: The issue date of the security.

First_interest [Required]: The security’s first interest date.

Settlement [Required]: The security’s settlement date.

Rate [Required]:The security’s annual coupon rate.

Par [Required]: The security’s par value. If omitted, [par] takes the default value of 1,000.

Frequency [Required]:  The number of coupon payments per year

(For annual payments, frequency = 1, for semiannual, frequency = 2, for quarterly, frequency = 4.)

Basis: [optional] that specifies the day count basis to be used in the calculation.

Basis can be one of the following:

0 (or omitted) = US (NASD) 30/360

1 = actual/actual

2 = actual/360

3 = actual/365

4 = European 30/360

Calculation_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. If omitted, [calc_method] takes the default value of TRUE.

Calculation method can be as following:

1 = TRU

0 = FALSE

## Using ACCRINT function:

Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text. 