# ACCRINT

## What is ACCRINT?

ACCRINT is a financial function used to calculate the interest accrued on a financial instrument over a specific period. The function can be used to calculate the interest on bonds, notes, and other fixed-income securities. ACCRINT stands for “Accrued Interest.”

## Syntax of ACCRINT

The syntax for the ACCRINT function is as follows:

``` ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis]) ```

The function has seven arguments:

* `issue`: The issue date of the financial instrument.

* `first_interest`: The date when the first interest payment is made.

* `settlement`: The date when the instrument was bought.

* `rate`: The interest rate of the instrument.

* `par`: The par value of the instrument.

* `frequency`: The number of coupon payments per year.

* `basis`: The day-count basis to use for calculating the accrued interest.

## How to Use ACCRINT in Power BI

To use the ACCRINT formula in Power BI, you need to follow these steps:

1. Open Power BI Desktop.

2. Select the “New Measure” option from the “Modeling” tab.

3. Type in a name for the measure.

4. Enter the ACCRINT formula using the syntax explained above.

5. Press “Enter” to save the formula.

For example, suppose you have a bond with the following details:

* Issue date: January 1, 2021

* First interest payment date: June 30, 2021

* Settlement date: May 15, 2021

* Interest rate: 5%

* Par value: \$1,000

* Frequency: 2 (semi-annual payments)

To calculate the accrued interest for this bond using the ACCRINT formula, you would use the following formula:

``` Accrued Interest = ACCRINT("1/1/2021", "6/30/2021", "5/15/2021", 0.05, 1000, 2, 0) ```

In this example, the `basis` argument is set to `0`, which means the US (NASD) 30/360 day-count basis is used for calculating the accrued interest.

## Understanding the ACCRINT Result

The result of the ACCRINT formula is the accrued interest for the financial instrument. In the example above, the result would be \$21.74. This means that the investor is entitled to receive an additional \$21.74 in interest for the period between May 15, 2021, and June 30, 2021.

The ACCRINT function is a powerful tool for calculating the accrued interest on financial instruments in Power BI. By understanding the syntax of the function and how to use it, you can perform complex financial calculations with ease. Use the ACCRINT function to accurately calculate the interest on bonds, notes, and other fixed-income securities and gain valuable insights into your financial data.

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