Purpose:
Calculates the Accrued Interest at maturity.
Command:
=ACCRINTM(issue,settlement,rate,par,[basis])
Here:
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:
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 |
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)
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