How to use Excel ACCRINTM Function


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.


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


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.


  • 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


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

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