ACCRINTM Function in Microsoft Excel: Syntax, Examples & Troubleshooting

=ACCRINTM(issue, settlement, rate, par, [basis])

issue is the issue date. Although the second argument is named settlement, Microsoft’s description identifies it as the security’s maturity date. rate is the annual coupon rate, and par is the face amount used to calculate interest.

The official argument table calls par required but also says that omitted par uses 1000. To avoid relying on this documentation ambiguity or an untested omitted-position syntax, supply par explicitly in a production formula and in every example here.

Basis is 0 or omitted = US (NASD) 30/360; 1 = actual/actual; 2 = actual/360; 3 = actual/365; 4 = European 30/360. Issue, settlement and basis are truncated to integers. Use DATE formulas rather than locale-dependent date text.

Enter the following:

1. Enter =ACCRINTM(B2,B3,B4,B5,B6) in D2.
2. Expected result: 150.
3. Check the arithmetic 10000*0.06*90/360.

For this simple hypothetical security, principal plus this interest would be 10150, but that sum is a separate operation. ACCRINTM itself returns only 150. It has no periodic coupon-frequency input because this function addresses payment at maturity.

=ACCRINTM(B2,B3,B4,B5,3) is expected to return approximately 147.94520548, from 10000×0.06×90/365. The actual dates and annual rate are unchanged, but the basis denominator differs.

Using explicit par 1000 with basis 2 instead returns 15. Doubling par doubles interest; doubling the annual rate also doubles it for a fixed year fraction. Keep monetary units consistent when using that scale check.

Put the original basis-2 result in D2 and enter =B5+D2 in D3. The expected total is 10150. Keep three rows labeled “Par”, “Accrued interest” and “Combined amount” so the interest figure is not mistaken for a total redemption value.

For an issue-to-maturity interval of January 15 to February 14, 2026, there are 30 days. =ACCRINTM(DATE(2026,1,15),DATE(2026,2,14),6%,10000,2) is expected to give 50. This short control isolates the time fraction: one-third the days produces one-third the interest on actual/360.

The function does not fetch a contract’s terms or decide whether interest should instead accrue between periodic coupons. Do not substitute the buyer’s trade date for the issue date without a calculation policy that actually calls for that interval.

Microsoft documents #VALUE! for invalid issue or settlement dates; #NUM! for rate or par zero or negative, basis outside 0–4, or issue greater than or equal to settlement. The documented domain therefore excludes a zero-rate input even though an elementary multiplication would give zero.

If results differ, inspect percentage scale, the explicit par amount and basis before rounding. Current support does not establish every leap-year or month-end edge, and no such native behavior is inferred from other spreadsheet applications. These are calculation examples rather than financial advice.

Microsoft’s reference checked on October 17, 2026 lists: Excel for Microsoft 365 Excel for Microsoft 365 for Mac Excel 2024 Excel 2024 for Mac Excel 2021 Excel 2021 for Mac Excel 2019 Excel 2016. This current support list does not establish the first release. The introduction version and last functioning version have not been established from the reviewed documentation. No retirement is asserted.

Example verification: Expected numerical results are independently calculated; text and shape expectations follow the documented contract. These examples have not been tested in Microsoft Excel. No screenshot or native execution is claimed.

DATE in Excel | DAYS in Excel | ROUND in Excel

• Microsoft ACCRINTM reference, retrieved October 17, 2026.