ACCRINTM Function in Google Sheets

Calculate the accrued interest for a security that pays interest at maturity using the ACCRINTM function.

ACCRINTM Function

The ACCRINTM function in Google Sheets calculates the accrued interest for a security that pays interest at maturity.

Syntax

ACCRINTM(issue, maturity, rate, [redemption], [day_count_convention])
  • issue: The issue date of the security.
  • maturity: The maturity date of the security.
  • rate: The annual coupon rate of the security.
  • redemption: (Optional) The redemption value of the security. Default is 100.
  • day_count_convention: (Optional) The day count convention to use. Default is 0 (actual/actual).

Examples

  1. Basic Accrued Interest Calculation

Calculate the accrued interest for a security issued on January 1, 2020, maturing on January 1, 2025, with a 5% annual rate:

=ACCRINTM("1/1/2020", "1/1/2025", 0.05)

This will output the accrued interest for the period.

  1. Accrued Interest with Redemption Value

Calculate with a redemption value of 105:

=ACCRINTM("1/1/2020", "1/1/2025", 0.05, 105)

This will output the accrued interest considering the redemption value.

Notes

  • If the issue date is after the maturity date, the function will return an error.
  • Different day count conventions can be used depending on financial requirements.
  • ACCRINT: Calculate the accrued interest for a security that pays periodic interest.