Investment Studio > Expressions > Functions > Financial > ACCRINTM
float accrintm(date issue_date, date maturity_date, float annual_interest_rate, float par_value = 1000, integer day_count_basis = 0)
Returns the accrued interest for a security that pays interest at maturity (e.g. a zero-coupon bond).
issue_date is the date when the security was issued.
maturity_date is the date of the interest payment.
Automatic type conversion allows the use of date strings as arguments instead of explicit date values.
annual_interest_rate >= 0 is the security's interest rate for a whole year.
par_value >= 0 is the security's face value. If omitted, it defaults to 1000.
day_count_basis specifies the calendar convention used to count days and compute the corresponding fraction of a year:
| day_count_basis | Interpretation |
| 0 | US (NASD)
30/360: If the start date is the 31st of a month, it's
set to the 30th of the same month. If the end date is the
31st of a month, it's set to the 30th of the same month
unless the start date is less than the 30th of a month,
in which case the end date is set to the 1st of the next
month. The denominator used to compute the fraction of a year is 360. |
| 1 | Actual calendar days are counted and used to compute the fraction of a year. |
| 2 | Actual calendar days are counted. The denominator used to compute the fraction of a year is 360. |
| 3 | Actual calendar days are counted. The denominator used to compute the fraction of a year is 365. |
| 4 | European 30/360: Start and end dates that occur on the 31st of a month are set to the 30th of the same month. The denominator used to compute the fraction of a year is 360. |
If day_count_basis is omitted, it defaults to 0 (NASD-style 360/30).
Example
Consider a bond with the following properties:
Assuming standard US date format settings, the accrued interest on maturity is
=accrintm("3/1/2002", "3/1/2007", 7%, 1000, 3)
» 350.19.
See also accrint.