# ACCRINTM Function

The ACCRINTM function is one of the financial functions. It is used to calculate the accrued interest for a security that pays interest at maturity.

The ACCRINTM function syntax is:

ACCRINTM(issue, settlement, rate, [[par] [, [basis]]])

where

issue is the issue date of the security.

settlement is the maturity date of the security.

rate is the annual interest rate of the security.

par is the par value of the security. It is an optional argument. If it is omitted, the function will assume par to be $1000.

basis is the day count basis to use, a numeric value greater than or equal to 0, but less than or equal to 4. It is an optional argument. It can be one of the following:

Numeric value | Count basis
0 | US (NASD) 30/360
1 | Actual/actual
2 | Actual/360
3 | Actual/365
4 | European 30/360

Note: dates must be entered by using the DATE function.

The values can be entered manually or included into the cell you make reference to.

To apply the ACCRINTM function,

1. select the cell where you wish to display the result,
2. click the Insert Function icon situated at the top toolbar,
   or right-click within a selected cell and select the Insert Function option from the menu,
   or click the icon situated at the formula bar,
3. select the Financial function group from the list,
4. click the ACCRINTM function,
5. enter the required arguments separating them by commas,
6. press the Enter button.

The result will be displayed in the selected cell.