## Excel ACCRINTM Function

The ACCRINTM function returns the accrued interest for a security that pays interest at maturity.

#### Syntax

=ACCRINTM(issue, settlement, rate, par, [basis])

#### Arguments

• issue (required): The issue date of the security.
• settlement (required): The settlement date of the security.
• par (required): The par value of the security. If omitted, ACCRINT uses \$1,000.
• basis (optional): The type of day count basis to use when calculating interest for the security (default = 0):
• basis = 0 or omitted, if day count = US (NASD) 30/360;
• basis = 1, if day count = Actual/actual;
• basis = 2, if day count = Actual/360;
• basis = 3, if day count = Actual/365;
• basis = 4, if day count = European 30/360.

#### Return Value

The ACCRINTM function returns a numeric value.

#### Function Notes

• ACCRINTM will return the #VALUE! error if issue or settlement is not a valid date.
• ACCRINTM will return the #NUM! error if:
• rate ≤ 0 or par ≤ 0;
• basis < 0 or basis > 4;
• issue ≥ settlement.
• issue, settlement and basis are truncated to integers.
• The result of the formula is a numeric value. To add a currency symbol to it, please apply the Format Cells feature.

#### Example

As the information shown in the below table, to get the accrued interest for the security that pays interest at maturity, please copy or enter the formula below in a blank cell, and press Enter to get the result:

=ACCRINTM(C3,C4,C5,C6,C7)

If a bond has the same information above except that the settlement date is October 1, 2021, you can add a DATE function to replace the C5 in the formula:

=ACCRINTM(C3,C4,DATE(2021,10,1),C6,C7)

If a treasury bond has the same information above except that the day count basis is Actual/360, you should change the basis argument to 2:

=ACCRINTM(C3,C4,DATE(2021,10,1),C6,2)

#### Related functions

Excel ACCRINT Function

The ACCRINT function returns the accrued interest on periodic interest-paying securities.

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