Apple Numbers ACCRINTM Function: Accrued Interest and Par Defaults
Calculate issue-to-settlement interest with explicit day bases, Apple’s omitted-par rule and a complete seller-payment reconciliation.
Verification status: See the evidence and test scope described in this guide. How formula examples are checked
ACCRINTM calculates interest accrued between issue and settlement for a security whose interest is paid only at maturity. Apple describes this accrued amount as added to the agreed purchase price and paid to the seller. The result is an amount of interest, not an annual rate.
Availability and verification
The official ACCRINTM reference was retrieved October 15, 2026. The original introduction release and last functioning version are unknown from the checked evidence. A documentation snapshot is not a last-working-build test or proof of every client’s behavior.
No native Apple Numbers session was executed. The worked values are independent calculations from the stated fixtures, with published source examples identified separately. The examples are instructional models, not financial advice or a claim about an actual security.
Syntax and omitted par value
ACCRINTM(issue, settle, annual-rate, par, days-basis)
issue is the original issue date and settle must be later. annual-rate is positive and entered as a decimal or percentage. par supplies the face amount, not a per-100 price quote.
Apple explicitly documents 1000 as the assumed par when that argument is left empty, retaining its comma position. The examples also show an explicit par value so the monetary scale remains visible.
The optional basis is 0 or omitted for US/NASD 30/360, 1 actual/actual, 2 actual/360, 3 actual/365, or 4 European 30/360. The examples avoid inventing a general algorithm for unusual month-end dates or multi-year actual/actual spans.
Complete actual/365 fixture
Use issue January 1, 2026, settlement April 1, 2026, annual rate 6%, par 10000, and basis 3.
=ACCRINTM(DATE(2026,1,1),DATE(2026,4,1),6%,10000,3)
There are 90 actual days between those dates. The independent expected interest is 10000*6%*90/365 = 147.9452054795.
The date interval ends at settlement, not at a maturity date supplied elsewhere. This function has no maturity-date argument; its name describes the security’s interest-payment type.
Example: compare bases on ordinary dates
Keeping the other inputs unchanged, basis 2 uses 90/360 and gives 150. Basis 0 also gives 150 for these ordinary first-of-month dates, which are three 30-day months apart under the 30/360 control.
Their agreement does not establish identical methods for every interval. Actual/360 counts actual calendar days; 30/360 changes the day numerator according to its convention. A month-end example may therefore differ even though both use a 360-day year.
Example: explicit versus omitted par
With par 1000 and basis 3, the independent interest is 14.7945205479. The documented omitted-par form is:
=ACCRINTM(DATE(2026,1,1),DATE(2026,4,1),6%,,3)
Its target uses the same 1000 assumption. Removing the placeholder comma would move 3 into the wrong argument position; it would no longer explicitly select the intended basis.
This is an Apple-specific omission documented by the source, not an assumption that every spreadsheet treats empty argument slots the same way.
Advanced: reconcile the amount due to a seller
Suppose the separately agreed price for the fictional 10000-face position is 9800. Adding the independently calculated accrued interest gives 9947.9452054795 before fees or contractual rounding.
The accrued interest is not already a percentage of that 9800 purchase price. Its stated principal basis is par 10000. Changing the agreed purchase price while holding par, rate and dates fixed does not change this model’s accrued amount.
For par 25000, the same issue/settlement interval and 6% rate produce 369.8630136986. This is 2.5 times the 10000-face result, reflecting the changed face amount.
Advanced: reproduce the official longer example
Apple supplies issue December 14, 2007, settlement May 1, 2009, annual rate 10%, par 1000 and basis 0. Its published result is approximately 138.055555555556.
The ordinary 30/360 control for those dates is 497 days. Computing 1000*10%*497/360 gives 138.0555555556, reproducing the displayed example. These dates do not require a special 31st-day or February-end adjustment in this reconstruction.
Errors and troubleshooting
Check issue versus settlement order, the rate’s percentage scale and whether par was supplied in actual face units. A 6 entered where 6% was intended scales the rate by 100.
The source does not provide a complete error-code matrix for zero or negative par, invalid basis, equal dates or fractional basis values. No such native cases were executed, so the guide does not infer them from a related function.
Keep the interest amount, agreed price and any additional costs in separate fields. That makes the final payable amount auditable and prevents accidentally adding accrued interest twice.