{ "category": "Financial functions", "display_name": "ACCRINTM", "entry_kind": "built_in_function", "eval_api": { "method": "POST", "url": "https://handbook.dnacalc.com/api/eval" }, "function_id": "FUNC.ACCRINTM", "implementation_state": { "answer_bank": { "excel_builds": [ "20430" ], "larger_numeric": 0, "last_bit": 0, "matched": 3612, "other_mismatch": 0, "refused": 0, "rows": 3612, "unread": 0, "worst_ulp": 0 }, "detail": "Recorded: 3,612 in the answer bank and 3 workbook cells.", "dnacalc_commit": "9e1884369a678158dd82d3d74188daf986995e87", "in_catalogue": true, "state": "matches", "state_label": "Matches every recorded Excel answer", "summary": "Matches all 3,615 recorded answers", "workbook_corpus": { "cells": 3, "matched": 3 } }, "implementations": [ { "commit": "9e1884369a678158dd82d3d74188daf986995e87", "flavour": "excel-compatibility-candidate", "language": "Rust", "name": "CalcFunc", "own_code": [ "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/catalogue/bonds.rs#L163-L166", "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/ported/bond_core_family.rs#L213-L224", "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/ported/bond_core_family.rs#L427-L445" ], "repository": "https://github.com/DnaCalc/DnaCalc", "shared_code": [ "catalogue/bonds::or", "catalogue/bonds::bond_out", "catalogue/financial::date_1900", "locale::days_from_civil", "locale::civil_from_days", "locale::excel_serial_from_ymd", "locale::ymd_from_excel_serial", "ported/bond_core_family::max_serial", "ported/bond_core_family::derr", "ported/bond_core_family::act", "ported/bond_core_family::basis", "ported/bond_core_family::dser", "ported/bond_core_family::pos", "ported/bond_core_family::d360us", "ported/bond_core_family::d360eu", "ported/bond_core_family::map_bond_core_error_to_ws", "ported/day_count_common::days_in_month", "ported/day_count_common::us_30_360", "ported/day_count_common::real_days_in_year", "ported/day_count_common::excel_actual_actual_year", "ported/day_count_common::excel_actual_actual_fraction" ], "source": "https://github.com/DnaCalc/DnaCalc/blob/9e1884369a678158dd82d3d74188daf986995e87/crates/calc-func/src/catalogue/bonds.rs#L163-L166", "state": "matches", "suite": null, "summary": "Matches all 3,615 recorded answers" } ], "json_url": "https://handbook.dnacalc.com/api/functions/FUNC.ACCRINTM.json", "name": "ACCRINTM", "notes": [ { "basis": "19 YEARFRAC readings around serial 60 and the 1904, 2000 and 2004 leap days, 35 readings with serial 0 on all five bases, and 3 readings each from five financial functions.", "documentation": null, "evidence": [ { "commit": "c4c5dde7e2dcf735d2849835fc49769e2ab67ba7", "locator": null, "note": "the leap-day test as implemented", "path": "crates/calc-func/src/ported/day_count_common.rs", "repository": "DnaCalc" }, { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "delivered_scalar_readings_follow_the_application_route", "note": "recorded answers pinned", "path": "apps/dna-onecalc/tests/acceptance.rs", "repository": "DnaCalc" }, { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": null, "note": "87 recorded readings", "path": "crates/calc-func/tests/captures/fn4_questions/YEARFRAC.reading.json", "repository": "DnaCalc" } ], "functions": [ "FUNC.ACCRINTM", "FUNC.DISC", "FUNC.INTRATE", "FUNC.PRICEDISC", "FUNC.RECEIVED", "FUNC.YEARFRAC" ], "inferred": null, "kind": "quirk", "note_id": "FN-YEARFRAC-001", "open": [ "An argument left empty in the call, as in YEARFRAC(,5), has not been read." ], "recorded_on": "2026-11-04", "repros": [ { "call": "YEARFRAC(59, 60, 1)", "correct": null, "excel": { "bits": "0x3f66719f3601671a", "display": "0.0027397260273972603", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "start_date", "value": { "bits": "0x404d800000000000", "display": "59", "kind": "number" } }, { "name": "end_date", "value": { "bits": "0x404e000000000000", "display": "60", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x3ff0000000000000", "display": "1", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-YEARFRAC-fictitious-leap-day-3", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/YEARFRAC.reading.json", "repository": "DnaCalc" } }, { "call": "YEARFRAC(1520, 1521, 1)", "correct": null, "excel": { "bits": "0x3f6661ec6a5122f9", "display": "0.00273224043715847", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "start_date", "value": { "bits": "0x4097c00000000000", "display": "1520", "kind": "number" } }, { "name": "end_date", "value": { "bits": "0x4097c40000000000", "display": "1521", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x3ff0000000000000", "display": "1", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-YEARFRAC-fictitious-leap-day-9", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/YEARFRAC.reading.json", "repository": "DnaCalc" } }, { "call": "YEARFRAC(0, 5, 0)", "correct": null, "excel": { "bits": "0x3f8c71c71c71c71c", "display": "0.013888888888888888", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "start_date", "value": { "bits": "0x0000000000000000", "display": "0", "kind": "number" } }, { "name": "end_date", "value": { "bits": "0x4014000000000000", "display": "5", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x0000000000000000", "display": "0", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-YEARFRAC-calendar-zero-11", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/YEARFRAC.reading.json", "repository": "DnaCalc" } }, { "call": "YEARFRAC(0, 60, 1)", "correct": null, "excel": { "bits": "0x3fc50a8542a150a8", "display": "0.1643835616438356", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "start_date", "value": { "bits": "0x0000000000000000", "display": "0", "kind": "number" } }, { "name": "end_date", "value": { "bits": "0x404e000000000000", "display": "60", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x3ff0000000000000", "display": "1", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-YEARFRAC-fictitious-leap-day-1", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/YEARFRAC.reading.json", "repository": "DnaCalc" } }, { "call": "DISC(59, 60, 99, 100, 1)", "correct": null, "excel": { "bits": "0x400d33333333333a", "display": "3.650000000000003", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "settlement", "value": { "bits": "0x404d800000000000", "display": "59", "kind": "number" } }, { "name": "maturity", "value": { "bits": "0x404e000000000000", "display": "60", "kind": "number" } }, { "name": "pr", "value": { "bits": "0x4058c00000000000", "display": "99", "kind": "number" } }, { "name": "redemption", "value": { "bits": "0x4059000000000000", "display": "100", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x3ff0000000000000", "display": "1", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-DISC-fictitious-leap-day-1", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/DISC.reading.json", "repository": "DnaCalc" } }, { "call": "DISC(1520, 1521, 99, 100, 1)", "correct": null, "excel": { "bits": "0x400d47ae147ae14f", "display": "3.6600000000000033", "kind": "number" }, "input_route": "cell-value2", "inputs": [ { "name": "settlement", "value": { "bits": "0x4097c00000000000", "display": "1520", "kind": "number" } }, { "name": "maturity", "value": { "bits": "0x4097c40000000000", "display": "1521", "kind": "number" } }, { "name": "pr", "value": { "bits": "0x4058c00000000000", "display": "99", "kind": "number" } }, { "name": "redemption", "value": { "bits": "0x4059000000000000", "display": "100", "kind": "number" } }, { "name": "basis", "value": { "bits": "0x3ff0000000000000", "display": "1", "kind": "number" } } ], "recorded_in": "Excel 16.0.20527.20088, Windows, bitness and CPU not recorded in this reading file", "source": { "commit": "2d0eddcac86413014643af81d646581d54ba57bc", "locator": "fn7-DISC-fictitious-leap-day-2", "note": null, "path": "crates/calc-func/tests/captures/fn4_questions/DISC.reading.json", "repository": "DnaCalc" } } ], "schema": "efh.function-note/v1", "statement": "Excel's calendar holds a 29 February 1900, serial 60, that never existed. On basis 1 (actual/actual) it does not make 1900 a leap year: YEARFRAC(59,60,1) is 1/365, where the real 1904-02-29 gives YEARFRAC(1520,1521,1) = 1/366. Serial 0 is accepted as a date: YEARFRAC(0,5,0) is 5/360 and YEARFRAC(0,60,1) is 60/365. Reversed dates give the same answer as in order. ACCRINTM, DISC, INTRATE, PRICEDISC and RECEIVED take the same 365 and 366 on those dates: DISC(59,60,99,100,1) is about 3.65 and DISC(1520,1521,99,100,1) about 3.66.", "status": "measured", "title": "On basis 1 the fictitious 1900-02-29 is not a leap day, and YEARFRAC takes serial 0 as a date" } ], "schema": "efh.function-reference/v1", "section_order": [ "what-it-does", "try-it", "quirks", "how-to-implement", "version-differences", "alternatives" ], "sections": { "alternatives": "\n### Relationships\n\n- **[ACCRINT](FUNC.ACCRINT.md)** — the periodic-coupon counterpart. It needs `frequency` and\n `calc_method` because it must reconstruct a coupon schedule; this function needs neither. The\n two agree only in the degenerate case where the whole interval is one coupon period.\n- **[YEARFRAC](FUNC.YEARFRAC.md)** — the day-count engine. `ACCRINTM(i, s, r, p, b)` should be\n `p × r × YEARFRAC(i, s, b)`, and testing that identity is the cheapest way to localize a\n disagreement to one of the two functions.\n- **`INTRATE`, `RECEIVED`, `DISC`** — the discount-instrument family, which measures time the\n same way but quotes the result as a rate rather than an amount.\n- **Confused with**: `ACCRINT` (above), and with `ISPMT`-style simple-interest arithmetic, which\n uses a period count rather than a day-count basis.\n\n\n", "how-to-implement": "\n### Numerical notes\n\n1. **There is nothing to lose precision in.** Three finite numbers are multiplied; the only\n rounding is in `A/D` and in the two products. The interesting engineering question is not\n accuracy but *op order*: `par × rate × (A/D)` and `par × (rate × A) / D` differ in the last\n bit, and an implementation targeting Excel compatibility must pin which one it forms.\n2. **`D` is a small integer in three of five cases**, so `A/D` is a quotient of small integers\n by 360 or 365 — inexact in binary, and therefore genuinely last-bit-sensitive.\n3. **Basis 1 needs a written specification before it needs code.** Which years contribute,\n how leap days are counted, and what happens across multi-year intervals are all choices, and\n the documentation makes none of them.\n5. **Truncate all three integer-valued arguments first**, per the documented rule, before any\n arithmetic — including `basis`.\n\n\n", "quirks": "\n### Result and edge cases\n\n\nReturns a `Number`: an amount of currency in the units of `par`.\n\n- **Long intervals under basis 1** are where the unspecified actual/actual construction becomes\n visible; two defensible constructions differ by a fraction of a day per year spanned.\n- **Fractional date serials** contribute no fractional days, per the documented truncation rule.\n- Empty, missing and error arguments follow the shared call model; see\n [The value universe](../model/01-value-universe.md).\n\n\n\n### Errors\n\n\nMicrosoft's Learn page documents four conditions, in these words (it says \"will generate an\nerror\" without naming a worksheet error value):\n\n| Condition (documented) | Documented outcome |\n|---|---|\n| `issue` or maturity is not a valid date | error |\n| `rate` = 0, or `par` = 0 | error |\n| `basis` < 0 or `basis` > 4 | error |\n| `issue` = maturity | error |\n\n", "sources": "- Microsoft Learn, **WorksheetFunction.AccrIntM method (Excel)** —\n . Source of\n the parameter table (including the Required marking on `par` and the \"$1,000\" sentence in the\n same cell), the basis table, the truncation rule, the four error conditions, the `A` and `D`\n definitions, and the date-entry warning.\n- Microsoft 365 support, **ACCRINTM function** —\n .\n The worksheet-surface page; cited for completeness and **not retrieved** for this entry (the\n host returned HTTP 403), so nothing here is quoted from it.\n- Handbook, [YEARFRAC](FUNC.YEARFRAC.md) — the day-count basis axis and the open actual/actual\n question, stated once and not restated here.\n- Handbook evidence record `EV-FIN-0031` — the uncounted comparison, and its exclusion from the\n `ACCRINT` figures.\n- Handbook chapters [01 the value universe](../model/01-value-universe.md),\n [02 coercion and lifting](../model/02-coercion-and-lifting.md),\n [06 claim language](../model/06-claim-language.md).\n- `data/functions/FUNC.ACCRINTM.json`, `data/presence/FUNC.ACCRINTM.json`,\n `data/battery/FUNC.ACCRINTM.json`.\n\n", "version-differences": "The recorded environments below distinguish a reading from a same-input comparison. Counts describe captured inputs in each environment; overlapping captures and comparisons are not totals of unique worksheet calls.\n\n| Excel 16.0 build | Platform and CPU | Captured inputs |\n|---|---|---:|\n| 20430 | Windows, 64-bit, AMD Ryzen 7 4800H with Radeon Graphics | 2,406 |\n\nThe record contains no same-input comparison between these environments. Reading different inputs on different builds does not establish either a version change or cross-build agreement.\n\n[Recorded environments and comparison details](https://github.com/DnaCalc/ExcelFunctionsHandbook/blob/5dc75391aa5125ccc5abdb095da85950980d6fd8/content/evidence/environments/FUNC.ACCRINTM.json).", "what-it-does": "\n`ACCRINTM` returns the accrued interest on a security that pays **all** its interest at\nmaturity. There are no coupons in between, so there is no schedule to reconstruct: the whole\ncomputation is one interval measured once.\n\nMicrosoft's Learn reference states the shape of the equation directly — \"*A* = Number of accrued\ndays counted according to a monthly basis\", \"*D* = Annual Year Basis\", and \"For interest at\nmaturity items, the number of days from the issue date to the maturity date is used\". Writing\nthat out:\n\n> ACCRINTM = par × rate × (A / D)\n\nSo the mathematics is a single product of three numbers, and **all of the difficulty is in the\nyear fraction**. The `basis` argument is not a detail on this page; it is the page.\n\n| `basis` | Convention | Numerator `A` | Denominator `D` |\n|---|---|---|---|\n| 0 or omitted | US (NASD) 30/360 | 30/360-adjusted day count | 360 |\n| 1 | Actual/actual | actual calendar days | actual — depends on the years spanned |\n| 2 | Actual/360 | actual calendar days | 360 |\n| 3 | Actual/365 | actual calendar days | 365 |\n| 4 | European 30/360 | 30/360-adjusted day count | 360 |\n\nThat table is Microsoft's, verbatim from the Learn page. The basis-1 construction — what\n\"actual year\" means when the interval spans a year boundary or a leap day — is *not* specified\nthere, and is the same unsettled question described at length on [YEARFRAC](FUNC.YEARFRAC.md).\nFor an at-maturity instrument this matters more than usual, because the interval is typically\nlong: a bill with a two-year term crosses at least one year boundary by construction.\n\n### One naming trap\n\nThe second argument is called `settlement` on the worksheet, and Microsoft's own Learn page\ndescribes it as \"the security's **maturity** date\". For an at-maturity security these are the\nsame date in normal use — the interest stops accruing when the paper matures — but the argument\nname and the argument description do not agree, and code written against the name alone will\npass the wrong date on any early-settlement scenario. The Handbook records the naming\ndiscrepancy; it does not resolve which reading Excel implements.\n\n\n\n### Arguments\n\n\n`ACCRINTM(issue, settlement, rate, [par], [basis])`\n\n**`rate` is annual.** Unlike [ACCRINT](FUNC.ACCRINT.md) there is no `frequency` to divide it by,\nso an annual rate goes in unmodified and the year fraction does all the scaling.\n\n**`par` scales the answer linearly**, which is why a wrong `par` produces a plausible-looking\nwrong number rather than an obviously broken one.\n\nMicrosoft documents that **\"Issue, maturity, and basis are truncated to integers\"**, and carries\nthe standard warning that dates should come from `DATE` or from other formulas rather than being\ntyped as text. Numeric slots otherwise follow the shared model in\n[Coercion and lifting](../model/02-coercion-and-lifting.md).\n\n\n" }, "signature": { "display": "ACCRINTM(issue, settlement, rate, [par], [basis])", "parameters": [ { "description": null, "name": "issue", "optional": false, "repeats": false }, { "description": null, "name": "settlement", "optional": false, "repeats": false }, { "description": null, "name": "rate", "optional": false, "repeats": false }, { "description": null, "name": "par", "optional": true, "repeats": false }, { "description": null, "name": "basis", "optional": true, "repeats": false } ], "trailing_repeats": false }, "sources": { "metadata": { "admission": { "label": "implemented", "reason": null }, "arity": { "max": 5, "min": 3 }, "category": "Financial functions", "classification": { "arg_preparation_profile": "ValuesOnlyPreAdapter", "coercion_lift_profile": "Custom", "determinism_class": "Deterministic", "error_collapse_profile": "None", "fec_dependency_profile": "None", "host_interaction_class": "None", "kernel_signature_class": "Custom", "rich_value_usage": "RichBlind", "surface_fec_dependency_profile": "RefOnly", "thread_safety_class": "SafePure", "volatility_class": "NonVolatile" }, "descriptions": { "long": null, "short": "Interest accrued on a security that pays all its interest when it matures", "short_source": "dna-calc-own" }, "docs": { "english_description": "Returns the accrued interest for a security that pays interest at maturity", "microsoft_url": "https://support.microsoft.com/en-us/office/accrintm-function-f62f01f9-5754-4cc4-805b-0e70199328a7" }, "entry_kind": "built_in_function", "localized_family_names": null, "localized_names": [ { "locale": "ar-SA", "name": "ACCRINTM" }, { "locale": "bg-BG", "name": "ACCRINTM" }, { "locale": "cs-CZ", "name": "ACCRINTM" }, { "locale": "da-DK", "name": "ACCRINTM" }, { "locale": "de-DE", "name": "AUFGELZINSF" }, { "locale": "el-GR", "name": "ACCRINTM" }, { "locale": "en-AU", "name": "ACCRINTM" }, { "locale": "en-GB", "name": "ACCRINTM" }, { "locale": "en-US", "name": "ACCRINTM" }, { "locale": "es-ES", "name": "INT.ACUM.V" }, { "locale": "et-EE", "name": "ACCRINTM" }, { "locale": "fi-FI", "name": "KERTYNYT.KORKO.LOPUSSA" }, { "locale": "fr-FR", "name": "ACCRINTM" }, { "locale": "he-IL", "name": "ACCRINTM" }, { "locale": "hr-HR", "name": "ACCRINTM" }, { "locale": "hu-HU", "name": "LEJÁRATI.KAMAT" }, { "locale": "id-ID", "name": "ACCRINTM" }, { "locale": "it-IT", "name": "ACCRINTM" }, { "locale": "ja-JP", "name": "ACCRINTM" }, { "locale": "ko-KR", "name": "ACCRINTM" }, { "locale": "lt-LT", "name": "ACCRINTM" }, { "locale": "lv-LV", "name": "ACCRINTM" }, { "locale": "nb-NO", "name": "ACCRINTM" }, { "locale": "nl-NL", "name": "SAMENG.RENTE.V" }, { "locale": "pl-PL", "name": "NAL.ODS.WYKUP" }, { "locale": "pt-BR", "name": "ACCRINTM" }, { "locale": "pt-PT", "name": "JUROSACUMV" }, { "locale": "ro-RO", "name": "ACCRINTM" }, { "locale": "ru-RU", "name": "НАКОПДОХОДПОГАШ" }, { "locale": "sk-SK", "name": "ACCRINTM" }, { "locale": "sl-SI", "name": "ACCRINTM" }, { "locale": "sr-Latn-RS", "name": "ACCRINTM" }, { "locale": "sv-SE", "name": "UPPLOBLRÄNTA" }, { "locale": "th-TH", "name": "ACCRINTM" }, { "locale": "tr-TR", "name": "GERÇEKFAİZV işlevi" }, { "locale": "uk-UA", "name": "ACCRINTM" }, { "locale": "vi-VN", "name": "ACCRINTM" }, { "locale": "zh-CN", "name": "ACCRINTM" }, { "locale": "zh-HK", "name": "ACCRINTM" }, { "locale": "zh-TW", "name": "ACCRINTM" } ], "signature": { "display": "ACCRINTM(issue, settlement, rate, [par], [basis])", "parameters": [ { "description": null, "name": "issue", "optional": false, "repeats": false }, { "description": null, "name": "settlement", "optional": false, "repeats": false }, { "description": null, "name": "rate", "optional": false, "repeats": false }, { "description": null, "name": "par", "optional": true, "repeats": false }, { "description": null, "name": "basis", "optional": true, "repeats": false } ], "trailing_repeats": false }, "surface_name": "ACCRINTM", "version_marker": null, "xlcall": { "code": "470", "symbol": "xlfAccrintm" } }, "microsoft": "https://support.microsoft.com/en-us/office/accrintm-function-f62f01f9-5754-4cc4-805b-0e70199328a7" }, "try_it": { "formula": "=ACCRINTM(1,45000,0.05)" }, "url": "https://handbook.dnacalc.com/functions/ACCRINTM.html", "variants": [], "versions": [ { "behaviour": "2,406 captured inputs are indexed for this environment. Capture dates: 2026-09-24 to 2026-09-25. This is a reading count, not a comparison with another build.", "excel_build": "16.0 build 20430", "platform": "Windows, 64-bit, AMD Ryzen 7 4800H with Radeon Graphics", "sources": [ "https://github.com/DnaCalc/ExcelFunctionsHandbook/blob/5dc75391aa5125ccc5abdb095da85950980d6fd8/content/evidence/environments/FUNC.ACCRINTM.json" ] } ] }