This function calculates accrued interest on a security (typically a bond) that pays interest at maturity.

ACCRINTM takes 4 required arguments and 1 optional argument:

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

##### Using the ACCRINTM function with only the required arguments:
Note:
See also the ACCRINT function for a security that pays periodic interest.
##### Using the ACCRINTM function with the optional basis argument:
The arguments for the ACCRINTM function are:
Argument Required? Description
issue Required The security's issue date.
settlement Required The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
rate Required The security's annual coupon rate.
par Required The security's par value. If you omit par, ACCRINTM uses \$1,000.
basis Optional The type of day count basis to use.
##### About the optional basis argument:
Possibleargument values:
US bonds typically use the 0 - US (NASD) 30/360 basis, which is the Excel default value if this optional argument is omitted.
##### A few more things:
 • Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2014 is serial number 41640 because it is 41,640 days after January 1, 1900. • issue, settlement, and basis are truncated to integers. • If issue, or settlement is not a valid date, ACCRINTM returns the #VALUE! error value. • If rate ≤ 0 or if par ≤ 0, ACCRINTM returns the #NUM! error value. • If basis < 0 or if basis > 4, ACCRINTM returns the #NUM! error value. • If issue ≥ settlement, ACCRINTM returns the #NUM! error value.

### Summary

The ACCRINTM function calculates accrued interest on a security (typically a bond) that pays interest at maturity.