## Introduction:-

ACCRINTM function in excel is a financial function. It is used to find accrued interest for a security that pays interest at maturity. It is a worksheet function and can be entered in the cell in which value is required.

## Syntax:-

=ACCRINTM(issue_date, maturity_date, rate, par, basis)

## Arguments:-

Issue_Date: It is the date on which security is used.

Maturity_Date: It is the date on which security will be matured.

Rate: Annual coupon rate of the security.

Par: It is the par value of the security. Default value is \$1000.

Basis: It is the type of day count basis to be used.

## Keynotes:-

• Microsoft Excel stores dates as serial numbers . By default, January 1, 1900 is serial number 1 and corresponding dates have serial number greater than 1.
• Issue and basis are converted to integers.
• If issue_date is not in valid format, #VALUE error is returned.
• If Rate and Par are less than or equal to zero, #NUM error is displayed.
• If Basis is less than or equal to zero, #NUM error is displayed.
• Calculation of ACCRINTM is done according to formula: par × rate × A/D

## Examples

In this example, various arguments are entered in column A and their values are entered in column B and ACCRINTM function is used to retrieve the result in column D. Formula used for calculation is: par × rate × A/D

×