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# accrint - Accrued Simple Interest ACCRINT The amount of...

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Accrued Simple Interest – ACCRINT The amount of accrued simple interest since the last interest date can be calculated using Excel’s ACCRINT function. See the table below for a detailed list of the exercises and problems in the text that can be solved using this function. This function is included in the Analysis ToolPak. Syntax =ACCRINT(issue,first interest,settlement,rate,par,frequency,basis) Issue – issue date of the security First interest – first interest date Settlement – the date after the issue date when the security is traded to the buyer Rate – annual coupon rate Par – par value of the security; Excel uses \$1000 if omitted Frequency – number of coupon payments per year 1 = annual 2 = semiannual 3 = quarterly Basis – day count basis of the security. Defaults to 0 if omitted. 0 = 30/360 (US NASD) 1 = actual/actual 2 = actual/360 3 = actual/365 4 = European 30/365 General Example The following general example shows how the ACCRINT function can be used. Notice that the ACCRINT function appears in the formula bar. Using the ACCRINT Function in a Spreadsheet 1

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To calculate the amount of interest that has accrued since the last interest date, create a spreadsheet by following Steps 1 to 7. Or, to use the ACCRINT function right away, open the ACCRINT worksheet in the Excel Functions Templates workbook. All fields have been formatted for you (currency, percentage, number of decimals displayed). Step 1 : Enter the title ACCRINT Function in cell A1 . You will replace ACCRINT Function with your project title when you use your spreadsheet for a particular question or situation.
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