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WorksheetFunction.AccrIntM method (Excel)

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

Syntax

expression.AccrIntM (Arg1, Arg2, Arg3, Arg4, Arg5)

expression A variable that represents a WorksheetFunction object.

Parameters

Name Required/Optional Data type Description
Arg1 Required Variant The security's issue date.
Arg2 Required Variant The security's maturity date.
Arg3 Required Variant The security's annual coupon rate.
Arg4 Required Variant The security's par value. If you omit par, ACCRINTM uses $1,000.
Arg5 Optional Variant The type of day count basis to use.

Return value

Double

Remarks

Important

Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May 2008. Problems can occur if dates are entered as text.

The following table describes the values that can be used for Arg5.

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

Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900.

Note

Visual Basic for Applications (VBA) calculates serial dates differently than Excel. In VBA, serial number 1 is December 31, 1899, rather than January 1, 1900.

Issue, maturity, and basis are truncated to integers. If issue or maturity is not a valid date, ACCRINTM will generate an error.

If rate = 0 or if par = 0, ACCRINTM will generate an error.

If basis < 0 or if basis > 4, ACCRINTM will generate an error.

If issue = maturity, ACCRINTM will generate an error.

ACCRINTM is calculated as follows, where: A = Number of accrued days counted according to a monthly basis:

ACCRINTM

For interest at maturity items, the number of days from the issue date to the maturity date is used. D = Annual Year Basis.

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