Microsoft KB Archive/137922

= Microsoft Knowledge Base =

ACCRINT Example in Help File Has Incorrect Result
Last reviewed: September 13, 1996

Article ID: Q137922

The information in this article applies to:


 * Microsoft Excel for Windows, versions 5.0, 5.0c
 * Microsoft Excel for the Macintosh, versions 5.0, 5.0a
 * Microsoft Excel for Windows NT, version 5.0
 * Microsoft Excel for Windows 95, version 7.0

SUMMARY
The following portion of the example listed in Microsoft Excel Help for the ACCRINT worksheet function contains incorrect information:

Example

A Treasury bond has the following terms: February 28, 1993 issue date May 1, 1993 settlement date August 31, 1993 first interest date 10.0% coupon $1000 par value Frequency is semiannual 30/360 basis The accrued interest (in the 1900 Date System) is:

ACCRINT(34028,34212,34090,0.1,1000,2,0) equals 16.85083. The result 16.85083 is incorrect. The correct result for the formula ACCRINT(34028,34212,34090,0.1,1000,2,0) is 16.94444.

MORE INFORMATION
The ACCRINT worksheet function returns the accrued interest for a security that pays periodic interest.

If this function is not available, run the Setup program to install the Analysis ToolPak. After you install the Analysis ToolPak, you must select and enable it in the Add-In Manager.

For more information about the ACCRINT function in Microsoft Excel 7.0, click Answer Wizard on the Help menu, and type:

Tell me about the ACCRINT function