The DAX ACCRINT function calculates the accrued interest for a security that pays periodic interest. It takes several arguments, including the issue date, first interest date, settlement date, annual coupon rate, par value, frequency of payments, day count basis, and a logical value to determine the calculation method. The function returns the total accrued interest from the issue date to the settlement date if the calculation method is TRUE, or the accrued interest from the first interest date to the settlement date if FALSE.
ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])
| Parameters | Definition |
|---|---|
| issue | The date the security was issued. |
| first_interest | The date the first interest payment will be made. |
| settlement | The date the security was traded to the buyer. |
| rate | The annual coupon rate (as a decimal). |
| par | The security’s par value (face value). If omitted, it defaults to $1,000. |
| frequency | The number of coupon payments per year (1 for annual, 2 for semi-annual, 4 for quarterly). |
| basis (optional) | The day-count basis to use for interest calculations. If omitted, it defaults to 0 (actual/actual). |
| calc_method (optional) | A logical value specifying how to calculate accrued interest when the settlement date is after the first interest date. If TRUE or omitted, calculates interest from the issue date to the settlement date. If FALSE, calculates interest from the first interest date to the settlement date. |