'Demystifying ACCRINT: Understanding Accrued Interest in Excel'

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The ACCRINT function in Excel calculates the accrued interest for a security that pays interest on a periodic basis. The function takes the following arguments:

Issue date: The date the security was issued.
First interest date: The date the first interest payment was made.
Settlement date: The date the security was sold or transferred to a new owner.
Rate: The annual coupon rate of the security.
Par: The par value of the security.
Frequency: The number of coupon payments per year.
The ACCRINT function returns the total accrued interest from the issue date to the settlement date, or from the first interest date to the settlement date, depending on the value of the optional calc_method argument.

For example, if a security was issued on 1/1/2023, has a first interest date of 3/1/2023, a settlement date of 4/1/2023, a coupon rate of 5%, a par value of Rs 1,00,000, and a frequency of 2, the ACCRINT function would return Rs1250.

I hope this helps!