ACCRINT Function in Google Sheets

Calculate the accrued interest for a security with periodic payments using the ACCRINT function.

ACCRINT Function

The ACCRINT function in Google Sheets calculates the accrued interest for a security that pays periodic interest.

Syntax

ACCRINT(issue, first_payment, settlement, rate, redemption, frequency, [day_count_convention])
  • issue: The security’s issue date. This is a required parameter.
  • first_payment: The date of the first interest payment. This is a required parameter.
  • settlement: The settlement date, when the security is traded to the buyer. This is a required parameter.
  • rate: The annual coupon rate. This is a required parameter.
  • redemption: The security’s redemption value per $100 face value. This is a required parameter.
  • frequency: The number of coupon payments per year (1, 2, or 4). This is a required parameter.
  • day_count_convention: (Optional) The day count convention to use (e.g., 0 for 30/360, 1 for actual/actual).

Examples

  1. Basic Calculation

Calculate the accrued interest for a bond with the following details:

  • Issue date: 01/01/2023
  • First payment date: 07/01/2023
  • Settlement date: 04/01/2023
  • Annual coupon rate: 5%
  • Redemption value: 100
  • Payment frequency: 2
=ACCRINT("01/01/2023", "07/01/2023", "04/01/2023", 0.05, 100, 2)

This will calculate the accrued interest.

Notes

  • The function assumes a standard day count convention if not specified.
  • The result represents the interest accrued from the issue date to the settlement date.
  • ACCRINTM: Calculate the accrued interest for a security with a maturity date.
  • COUPNCD: Calculate the next coupon date after the settlement date.