ACCRINTM function calculates the accrued interest for a security with a fixed maturity date, based on a specified interest rate. It is useful for financial analysis and investment management.

## Syntax

**ACCRINTM(issue, settlement, rate, par, basis)**

## Arguments

Arguments are used in the following way:

issue | The issue date of the security. |

settlement | The settlement date when the security was acquired. |

rate | The annual interest rate of the security. |

par | The par value of the security (face value). |

basis | The day count basis to use for calculations. It specifies how days are counted. (Optional) |

## How to Use

To use the ACCRINTM function, follow these steps:

1. Enter the issue date, settlement date, annual interest rate, par value, and optionally, the day count basis in your Excel worksheet.

2. Use the ACCRINTM function to calculate accrued interest based on the provided information.

3. The function will return the accrued interest amount for the security.

## Examples

Let’s look at some examples of how to use the ACCRINTM function:

1 |
=ACCRINTM("01/01/2023", "07/01/2023", 0.05, 1000, 0) |

This formula calculates the accrued interest for a security issued on January 1, 2023, and settled on July 1, 2023, with an annual interest rate of 5% and a par value of $1000. It uses the basis of 0, meaning it uses the US (NASD) 30/360 day count basis.

1 |
=ACCRINTM("01/01/2023", "07/01/2023", 0.05, 1000, 1) |

This formula is similar to the previous one but uses a basis of 1, which corresponds to the actual/actual day count basis.

These examples demonstrate how to use the ACCRINTM function to calculate accrued interest under different day count bases.

## Additional Information

If you need more detailed information about Excel functions, you can refer to the official Excel documentation.