ACCRINTM (Accrued Interest at Maturity)

Purpose:
Calculates the Accrued Interest at maturity.

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

Here:

issue	-  Date of issue issue of the investment
settlement	-  Date the investment is traded to the buyer
rate	-  Annual rate of interest
par [basis]	-  This is the investment value -  Provides the method to use, when counting days between dates

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: 2-15-12        (Cell should be formatted to 'Date' in mm-dd-yy format)
A3: 4.75%           (Cell should be formatted to 'Percentage')
A4: Rs. 5,000      (Cell should be formatted to 'Currency')

When prompted, kindly select the following value:


[basis] - select it as Actual/365 (3)

Final formula will look like this:
=ACCRINTM(F1,F3,F4,F5,3) & will return to value 29.28%

Hint: If ACCRINTM 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)