ACCRINTM

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

Syntax

ACCRINTM(<issue>, <maturity>, <rate>, <par>[, <basis>])

Parameters

Term Definition
issue The security's issue date.
maturity The security's maturity date.
rate The security's annual coupon rate.
par The security's par value.
basis (Optional) The type of day count basis to use. If basis is omitted, it is assumed to be 0. The accepted values are listed below this table.

The basis parameter accepts the following values:

Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360

Return Value

The accrued interest.

Remarks

  • Dates are stored as sequential serial numbers so they can be used in calculations. In DAX, December 30, 1899 is day 0, and January 1, 2008 is 39448 because it is 39,448 days after December 30, 1899.

  • ACCRINTM is calculated as follows:

    $$\text{ACCRINTM} = \text{par} \times \text{rate} \times \frac{\text{A}}{\text{D}}$$

    where:

    • $\text{A}$ = 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.
    • $\text{D}$ = Annual Year Basis.
  • issue and maturity are truncated to integers.

  • basis is rounded to the nearest integer.

  • An error is returned if:

    • issue or maturity is not a valid date.
    • issue ≥ maturity.
    • rate ≤ 0.
    • par ≤ 0.
    • basis < 0 or basis > 4.
  • This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

Example

Data Description
1-April-2008 Issue date
15-June-2008 Maturity date
10% Percent coupon
1000 Par value
3 Actual/365 basis (see above)

The following DAX query:

EVALUATE
{
  ACCRINTM(DATE(2008,4,1), DATE(2008,6,15), 0.1, 1000, 3)
}

Returns the accrued interest for a security with the terms specified above.

[Value]
20.5479452054795