ACCRINT and ACCRINTM: calculate accrued interest on coupon and at-maturity bonds

Periodic coupon accrual vs interest-at-maturity accrual

Use ACCRINTM(issue, settlement, rate, par, [basis]) for zero-coupon or at-maturity notes that pay all accrued interest at redemption, and ACCRINT for periodic coupon securities.

Basis code 3 uses an Actual/365 day-count year, whereas basis 0 uses US 30/360. Always validate that issue precedes settlement and rate and par are positive.

=ROUND(ACCRINTM(B2, B3, B4, B5, B6), 4)

Validating settlement order and day-count basis

If settlement is on or before the issue date, ACCRINTM returns #NUM!. Guard the inputs explicitly in shared treasury sheets.

=IF(OR(B2>=B3,B4<=0,B5<=0),"Invalid bond parameters",ROUND(ACCRINTM(B2,B3,B4,B5,B6),4))