ACCRINT (Accrued Interest)

Purpose:
Calculates the Accrued Interest.

Command:
=ACCRINT(issue,first_interest,settlement,rate,par,frequency,[basis],[calc_method])

Here:

issue first_interest	-  Date of issue issue of the investment -  Date of payment for first interest
settlement	-  Date the investment is traded to the buyer
rate	-  Annual rate of interest
par	-  This is the investment value
frequency	-  Number of times payment is done per year
[basis]	-  Provides the method to use, when counting days between dates
[calc_method]	-  It's the Calculation method

Example:
Enter following data in Excel (A1,A2.... refers to cell location):
A1: 1-1-12          (Cell should be formatted to 'Date' in mm-dd-yy format)
A2: 4-30-12        (Cell should be formatted to 'Date' in mm-dd-yy format)
A3: 2-15-12        (Cell should be formatted to 'Date' in mm-dd-yy format)
A4: 4.75%           (Cell should be formatted to 'Percentage')
A5: Rs. 5,000       (Cell should be formatted to 'Currency')

When prompted, kindly select the following value:
frequency - select it as quarterly (4)
[basis] - select it as Actual/365 (3)

Enter following formula as shown below:
=ACCRINT(A1,A2,A3,A4,A5,4,3) & will return to value 29.28%

Hint: If ACCRINT returns the #NAME? error value then, perform following steps:

• Install Analysis ToolPak
• From Tools menu select Add-Ins
• Mark the checkbox next to Analysis ToolPak
• Click OK (this will install the Add-In)

Please see below image: