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WorksheetFunction.AccrIntM Method

Office 2007
Returns the accrued interest for a security that pays interest at maturity.

Syntax

expression.AccrIntM(Arg1, Arg2, Arg3, Arg4, Arg5)

expression   A variable that represents a WorksheetFunction object.

Parameters

NameRequired/OptionalData TypeDescription
Arg1RequiredVariantThe security's issue date.
Arg2RequiredVariantThe security's maturity date.
Arg3RequiredVariantThe security's annual coupon rate.
Arg4RequiredVariantThe security's par value. If you omit par, ACCRINTM uses $1,000.
Arg5OptionalVariantThe type of day count basis to use.

Return Value
Double

Remarks

 Important   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.

The following table describes the values that can be used for

Arg5.
BasisDay count basis
0 or omittedUS (NASD) 30/360
1Actual/actual
2Actual/360
3Actual/365
4European 30/360

The following list contains information to be aware of when working with ACCRINTM

  • Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900.
  • Issue, maturity, and basis are truncated to integers.
  • If issue or maturity is not a valid date, ACCRINTM will generate an error.
  • If rate ≤ 0 or if par ≤ 0, ACCRINTM will generate an error.
  • If basis < 0 or if basis > 4, ACCRINTM will generate an error.
  • If issue ≥ maturity, ACCRINTM will generate an error.
  • ACCRINTM is calculated as follows:

    Equation

    where:

    A = Number of accrued days counted according to a monthly basis. For interest at maturity items, the number of days from the issue date to the maturity date is used.

    D = Annual Year Basis.




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