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ACCRINTM Function - Calculate Accrued Interest at Maturity

The ACCRINTM function in Jspreadsheet Formulas Pro is a financial calculation tool designed for securities that pay interest at maturity. This specialized function is essential for:

Investment Analysis:

  • Zero-coupon bond valuation
  • Treasury bill calculations
  • Commercial paper analysis
  • Money market instrument pricing
  • Fixed-income portfolio management

Financial Operations:

  • Interest accrual tracking
  • Investment income forecasting
  • Portfolio yield calculations
  • Cash flow projections
  • Maturity value estimation

Risk Management:

  • Interest rate exposure analysis
  • Portfolio duration calculations
  • Investment timing decisions
  • Yield curve analysis
  • Risk-return assessment

The function is particularly valuable for:

  • Investment bankers pricing new issues
  • Portfolio managers tracking accrued interest
  • Treasury departments managing cash positions
  • Risk analysts evaluating interest rate exposure
  • Financial controllers preparing reports
  • Auditors verifying interest calculations

Unlike standard interest calculations, ACCRINTM specifically handles securities where interest accumulates and pays out at maturity, making it indispensable for accurate financial analysis and reporting.

Documentation

Calculates the total accrued interest for a security that pays interest only at its maturity date, based on the issue date, maturity date, annual interest rate, par value, and optional day count basis.

Category

Financial

Syntax

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

Parameter Description
issue The security's issue date (when the security was first issued). Must be a valid date.
maturity The security's maturity date (when interest is paid and principal is returned). Must be after the issue date.
rate The security's annual interest rate (as a decimal, e.g., 0.05 for 5%). Must be non-negative.
par The security's face value or par value (the principal amount). Must be non-negative.
[basis] Optional. The day count basis: 0=30/360 US (default), 1=Actual/Actual, 2=Actual/360, 3=Actual/365, 4=30/360 European.

Behavior

The ACCRINTM function calculates the accrued interest for a security that pays interest at maturity. It takes the following parameters: issue, maturity, rate, par, and optional basis. The function expects numerical inputs and dates for issue and maturity.

  • If the cells used in the parameters are empty, the function will treat them as zero.
  • Text entered in cells used as parameters will result in a #VALUE! error as the function expects numerical inputs or dates.
  • Boolean values are treated as 1 for TRUE and 0 for FALSE.
  • If the issue date or maturity date is not a valid date, the function will return a #VALUE! error.
  • If the given rate or par value is less than zero, the function will return a #NUM! error.
  • If the specified basis is not an integer between 0 and 4, the function will return a #NUM! error.
  • The maturity date must be after the issue date, otherwise the function will return a #NUM! error.

Common Errors

Error Description
#VALUE! This error is returned if either the issue date or maturity date is not a valid date, or if any of the input parameters are non-numeric.
#NUM! This error is returned if the given rate or par value is less than zero, if the specified basis is not an integer between 0 and 4, or if the maturity date is before or equal to the issue date.

Best practices

  • Always ensure that the issue date and maturity date are valid dates, and that they are entered in the correct format accepted by your spreadsheet software.
  • Verify that the maturity date is after the issue date to avoid calculation errors.
  • Always cross-check to ensure that the rate and par value are non-negative values.
  • Make sure to use the correct basis for your calculation. Remember, it should be an integer between 0 and 4 (0=30/360, 1=Actual/Actual, 2=Actual/360, 3=Actual/365, 4=30/360 European).
  • Be cautious about the cell references you use as parameters for the ACCRINTM function to avoid unwanted #VALUE! errors due to non-numeric inputs.
  • Consider the day count convention (basis) carefully as it significantly affects the calculation results.

Usage

Here are practical examples using the ACCRINTM function with different scenarios:

Example 1: Basic calculation with default basis

=ACCRINTM('1-Jan-2022', '1-Jan-2023', 0.05, 1000)
// Calculates accrued interest for a $1,000 bond at 5% annual rate
// Result: $50.00 (for full year with 30/360 basis)

Example 2: Six-month bond with actual/actual basis

=ACCRINTM('1-Jan-2023', '1-Jul-2023', 0.04, 5000, 1)
// Calculates accrued interest for a $5,000 bond at 4% annual rate
// Using actual/actual day count basis

Example 3: Short-term security with actual/360 basis

=ACCRINTM('15-Mar-2023', '15-Jun-2023', 0.035, 2500, 2)
// 3-month bond calculation with actual/360 day count

Interactive Spreadsheet Demo

<html>
<script src="https://jspreadsheet.com/v11/jspreadsheet.js"></script>
<script src="https://jsuites.net/v5/jsuites.js"></script>
<link rel="stylesheet" href="https://jsuites.net/v5/jsuites.css" type="text/css" />
<link rel="stylesheet" href="https://jspreadsheet.com/v11/jspreadsheet.css" type="text/css" />

<link rel="stylesheet" href="https://fonts.googleapis.com/css?family=Material+Icons" />
<script src="https://cdn.jsdelivr.net/npm/@jspreadsheet/formula-pro/dist/index.min.js"></script>

<div id="spreadsheet"></div>

<script>
// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

// Create a new spreadsheet
jspreadsheet(document.getElementById('spreadsheet'), {
  worksheets: [{
    data: [
    [
        "Issue Date",
        "Maturity Date",
        "Rate",
        "Par Value",
        "Basis",
        "Accrued Interest"
    ],
    [
        "2023-01-15",
        "2023-07-15",
        0.045,
        1000,
        0,
        "=ACCRINTM(A2,B2,C2,D2,E2)"
    ],
    [
        "2023-03-01",
        "2024-03-01",
        0.038,
        5000,
        1,
        "=ACCRINTM(A3,B3,C3,D3,E3)"
    ],
    [
        "2023-06-10",
        "2023-12-10",
        0.052,
        2500,
        2,
        "=ACCRINTM(A4,B4,C4,D4,E4)"
    ]
]
  }]
});
</script>
</html>

import React, { useRef } from "react";
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/react";
import formula from "@jspreadsheet/formula-pro";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";

// Set license
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default function App() {
    // Spreadsheet array of worksheets
    const spreadsheet = useRef();

    // Worksheet data
    const data = [
    [
        "Issue Date",
        "Maturity Date",
        "Rate",
        "Par Value",
        "Basis",
        "Accrued Interest"
    ],
    [
        "2023-01-15",
        "2023-07-15",
        0.045,
        1000,
        0,
        "=ACCRINTM(A2,B2,C2,D2,E2)"
    ],
    [
        "2023-03-01",
        "2024-03-01",
        0.038,
        5000,
        1,
        "=ACCRINTM(A3,B3,C3,D3,E3)"
    ],
    [
        "2023-06-10",
        "2023-12-10",
        0.052,
        2500,
        2,
        "=ACCRINTM(A4,B4,C4,D4,E4)"
    ]
];

    // Render component
    return (
        <Spreadsheet ref={spreadsheet}>
            <Worksheet data={data} />
        </Spreadsheet>
    );
}

<template>
    <Spreadsheet ref="spreadsheet">
        <Worksheet :data="data" />
    </Spreadsheet>
</template>

<script>
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/vue";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";
import formula from "@jspreadsheet/formula-pro";

// Set license
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default {
    components: {
        Spreadsheet,
        Worksheet,
    },
    data() {
        // Worksheet data
        const data = [
    [
        "Issue Date",
        "Maturity Date",
        "Rate",
        "Par Value",
        "Basis",
        "Accrued Interest"
    ],
    [
        "2023-01-15",
        "2023-07-15",
        0.045,
        1000,
        0,
        "=ACCRINTM(A2,B2,C2,D2,E2)"
    ],
    [
        "2023-03-01",
        "2024-03-01",
        0.038,
        5000,
        1,
        "=ACCRINTM(A3,B3,C3,D3,E3)"
    ],
    [
        "2023-06-10",
        "2023-12-10",
        0.052,
        2500,
        2,
        "=ACCRINTM(A4,B4,C4,D4,E4)"
    ]
]

        return {
            data
        };
    }
}
</script>

import { Component, ViewChild, ElementRef } from "@angular/core";
import jspreadsheet from "jspreadsheet";
import * as formula from "@jspreadsheet/formula-pro";

// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

@Component({
    standalone: true,
    selector: "app-root",
    template: `<div #spreadsheet></div>`
})
export class AppComponent {
    @ViewChild("spreadsheet") spreadsheet: ElementRef;
    // Worksheets
    worksheets: jspreadsheet.worksheetInstance[];

    // Create a new data grid
    ngAfterViewInit() {
        // Create spreadsheet
        this.worksheets = jspreadsheet(this.spreadsheet.nativeElement, {
            worksheets: [{
                data: [
    [
        "Issue Date",
        "Maturity Date",
        "Rate",
        "Par Value",
        "Basis",
        "Accrued Interest"
    ],
    [
        "2023-01-15",
        "2023-07-15",
        0.045,
        1000,
        0,
        "=ACCRINTM(A2,B2,C2,D2,E2)"
    ],
    [
        "2023-03-01",
        "2024-03-01",
        0.038,
        5000,
        1,
        "=ACCRINTM(A3,B3,C3,D3,E3)"
    ],
    [
        "2023-06-10",
        "2023-12-10",
        0.052,
        2500,
        2,
        "=ACCRINTM(A4,B4,C4,D4,E4)"
    ]
]
            }]
        });
    }
}

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