Quick Answer

ACCRINT Function

Calculates accrued interest for a security that pays periodic interest.

Syntax

ACCRINT

(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

Parameters

Parameter	Description	Required
issue	Date the security was issued.	Required
first_interest	Date of the first interest payment.	Required
settlement	Date the security is sold to the buyer.	Required
rate	Annual coupon rate.	Required
par	Par value of the security (default $1,000).	Required
frequency	Number of coupon payments per year (1, 2, or 4).	Required
basis	Day-count convention (0 = US 30/360, default).	Optional
calc_method	TRUE = calculated from issue date (default), FALSE = from first_interest.	Optional

Basic Example

Accrued interest for a semi-annual bond

=ACCRINT(DATE(2024,1,1), DATE(2024,7,1), DATE(2024,4,1), 0.05, 1000, 2)

ResultAccrued interest amount

Calculates accrued interest from January 1 to April 1 for a 5% semi-annual bond with $1,000 par value.

Advanced Examples

Example 1: Accrued interest with actual/365 day count

Bond trading

Use basis 3 for actual/365

=ACCRINT(DATE(2024,1,1), DATE(2024,7,1), DATE(2024,4,1), 0.05, 1000, 2, 3)

Result: Accrued interest using actual/365

Basis 3 counts actual days and uses a 365-day year.

How ACCRINT Works

ACCRINT calculates the interest that has accumulated since the last coupon payment. The result is based on the coupon rate, par value, and the number of days between the issue date and settlement date.

1

Enter issue

Type the issue

2

Enter first_interest

Type the first_interest

3

Enter settlement

Type the settlement

4

Enter rate

Type the rate

5

Calculate

Press Enter to get the result.

Important Notes & Limitations

Dates must be entered as valid Excel dates or with the DATE function.
Frequency must be 1 (annual), 2 (semi-annual), or 4 (quarterly).
Different basis values produce different day-count results.

Common Errors & Fixes

#NUM! errorInvalid dates, frequency, or basis.

Fix: Verify dates are valid and frequency/basis are correct.

#VALUE! errorDates are not recognized as dates.

Fix: Use DATE(year, month, day) or valid date serial numbers.

Download Practice File

Practice ACCRINT with Real Data

Download a sample CSV file with pre-populated data and practice exercises for the ACCRINT function. Works in both Excel and Google Sheets.

Works in Google SheetsCompatible with ExcelIncludes exercises

File format: CSV (comma-separated values) - opens in Excel, Google Sheets, and all spreadsheet apps

Related Functions

ACCRINTM

Calculates accrued interest for a security that pays interest at maturity.

AMORDEGRC

Calculates depreciation for a specific period using the French declining balance method.

AMORLINC

Calculates depreciation for a specific period using the French straight-line method.

COUPDAYBS

Calculates the number of days from the beginning of the coupon period to the settlement date.

COUPDAYS

Calculates the number of days in the coupon period that contains the settlement date.

COUPDAYSNC

Calculates the number of days from the settlement date to the next coupon date.

Frequently Asked Questions

What is accrued interest?

Accrued interest is the interest earned but not yet paid since the last coupon date.

What is the default par value in ACCRINT?

The default par value is $1,000 if omitted in some implementations, but Excel requires it.