ACCRINT

ACCRINT accrued interest

Synopsis

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

Arguments

issue: date of issue

first_interest: date of first interest payment

settlement: settlement date

rate: nominal annual interest rate

par: par value, defaults to $1000

frequency: number of interest payments per year

basis: calendar basis, defaults to 0

calc_method: calculation method, defaults to TRUE

Description

If first_interest < settlement and calc_method is TRUE, then ACCRINT returns the sum of the interest accrued in all coupon periods from issue date until settlement date.

If first_interest < settlement and calc_method is FALSE, then ACCRINT returns the sum of the interest accrued in all coupon periods from first_interest date until settlement date.

Otherwise ACCRINT returns the sum of the interest accrued in all coupon periods from issue date until settlement date.

Note

frequency must be one of 1, 2 or 4, but the exact value does not affect the result. issue must precede both first_interest and settlement. frequency may be 1 (annual), 2 (semi-annual), or 4 (quarterly). If basis is 0, then the US 30/360 method is used. If basis is 1, then actual number of days is used. If basis is 2, then actual number of days is used within a month, but years are considered only 360 days. If basis is 3, then actual number of days is used within a month, but years are always considered 365 days. If basis is 4, then the European 30/360 method is used.

See also

ACCRINTM.