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WorksheetFunction.AccrIntM Method (Excel)

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

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

expression A variable that represents a WorksheetFunction object.

Parameters

Name

Required/Optional

Data Type

Description

Arg1

Required

Variant

The security's issue date.

Arg2

Required

Variant

The security's maturity date.

Arg3

Required

Variant

The security's annual coupon rate.

Arg4

Required

Variant

The security's par value. If you omit par, ACCRINTM uses $1,000.

Arg5

Optional

Variant

The type of day count basis to use.

Return Value

Double

Important note 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.

Basis

Day count basis

0 or omitted

US (NASD) 30/360

1

Actual/actual

2

Actual/360

3

Actual/365

4

European 30/360

  • 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.

    Note Note

    Visual Basic for Applications (VBA) calculates serial dates differently than Excel. In VBA, serial number 1 is December 31, 1899, rather than 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: awfacrtm_ZA06051109where: 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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