ACCRINT

ACCRINT is a DAX function that returns the accrued interest for a security that pays periodic interest.

Syntax

ACCRINT(
   Issue,
   First_interest,
   Settlement,
   Rate,
   Par,
   Frequency,
   Basis,
   Calc_method
)

Argument	Properties	Description
Issue		The security’s issue date.
First_interest		The security’s first interest date.
Settlement		The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
Rate		The security’s annual coupon rate.
Par		The security’s par value.
Frequency		The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
Basis	Optional	The type of day count basis to use.
Calc_method	Optional	A logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first_interest. A value of TRUE (1) returns the total accrued interest from issue to settlement. A value of FALSE (0) returns the accrued interest from first_interest to settlement. If you do not enter the argument, it defaults to TRUE.

Return Values

The accrued interest.

Remarks

• Dates are stored as sequential serial numbers so they can be used in calculations. In DAX, December 30, 1899 is day 0, and January 1, 2008 is 39448 because it is 39,448 days after December 30, 1899.

• ACCRINT is calculated as follows:

  $$\text{ACCRINT}=\text{par}\times \frac{\text{rate}}{\text{frequency}}\times \sum _{i=1}^{\text{NC}}\frac{{\text{A}}_i}{{\text{NL}}_i}$$

  where:

  • ${\text{A}}_i$ = number of accrued days for the $i^{th}$ quasi-coupon period within odd period.
  • $\text{NC}$ = number of quasi-coupon periods that fit in odd period. If this number contains a fraction, raise it to the next whole number.
  • ${\text{NL}}_i$ = normal length in days of the quasi-coupon period within odd period.

• issue, first_interest, and settlement are truncated to integers.

• frequency and basis are rounded to the nearest integer.

• An error is returned if:

  • issue, first_interest, or settlement is not a valid date.
  • issue ≥ settlement.
  • rate ≤ 0.
  • par ≤ 0.
  • frequency is any number other than 1, 2, or 4.
  • basis < 0 or basis > 4.

• This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

Data	Description
1-March-2007	Issue date
31-August-2008	First interest date
1-May-2008	Settlement date
10%	Coupon rate
1000	Par value
2	Frequency is semiannual (see above)
0	30/360 basis (see above)

The following DAX query:

EVALUATE
{
  ACCRINT(DATE(2007,3,1), DATE(2008,8,31), DATE(2008,5,1), 0.1, 1000, 2, 0)
}

Returns the accrued interest from issue to settlement, for a security with the terms specified above.

[Value]
116.944444444444

The following DAX query:

EVALUATE
{
  ACCRINT(DATE(2007,3,1), DATE(2008,8,31), DATE(2008,5,1), 0.1, 1000, 2, 0, FALSE)
}

Returns the accrued interest from first_interest to settlement, for a security with the terms specified above.

[Value]
66.9444444444445

Contribute » | Contributors: Rick de Groot
Microsoft documentation: https://learn.microsoft.com/en-us/dax/accrint-function-dax