accrintm - Accrued Interest at Maturity ACCRINTM The amount...

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Accrued Interest at Maturity – ACCRINTM The amount of accrued simple interest for an investment that has a one-time payment, at maturity, can be calculated using Excel’s ACCRINTM 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 =ACCRINTM(issue,settlement,rate,par,basis) Issue – issue date of the security 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, $1000 if omitted 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 ACCRINTM function can be used. Notice that the ACCRINTM function appears in the formula bar. 1
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Using the ACCRINTM Function in a Spreadsheet 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 ACCRINTM function right away, open the ACCRINTM worksheet in the Excel Functions Templates workbook. All fields have been formatted for you (currency, percentage, number of decimals displayed). Step 1
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This note was uploaded on 08/22/2009 for the course MATH 1101 taught by Professor Tonycirusolo during the Fall '05 term at Niagara College.

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accrintm - Accrued Interest at Maturity ACCRINTM The amount...

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