## How to use the ACCRINT function

*Article last updated on March 19, 2018*

The ACCRINT function calculates the accrued interest for a security that pays periodic interest.

Formula in cell C9:

### Excel Function Syntax

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

### Arguments

issue |
Required. The security's issue date. |

first_interest |
Required. The security's first interest date. |

settlement |
Required. The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer. |

rate |
Required. The security's annual coupon rate. |

par |
Required. The security's par value. Default value is $1,000. |

frequency |
Required. The number of coupon payments per year. |

frequency | payments |
---|---|

1 |
Annual |

2 |
Semiannual |

4 |
Quarterly |

[basis] |
Optional. The type of day count basis to use. |

Basis | Day count basis |
---|---|

0 (default value) |
US (NASD) 30/360 |

1 |
Actual/actual |

2 |
Actual/360 |

3 |
Actual/365 |

4 |
European 30/360 |

[calc_method] |
Optional. A logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first_interest. |

calc_method | Function returns |
---|---|

TRUE |
Returns the total accrued interest from issue to settlement. |

FALSE |
Returns the accrued interest from first_interest to settlement. Default value. |

### Comments

Use the DATE function to enter dates in the ACCRINT function. For example, DATE(2018,1,1).

The DATE function returns a number that acts as a date in the Excel environment. The image above shows you […]

### Functions in 'Financial'

The ACCRINT function function is one of many functions in the 'Financial' category.

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