## Financial functions accrint, accrintm, amordegrc, amorlinc

#### Excel Function ACCRINT

The ACCRINT() function is used to calculate the interest accrued for a security that pays interest periodically.

This function takes the following parameters:

security issue date;first interest date;settlement date; annual coupon rate; par value; frequency and day count.

 Issue Date 1st Interest date Settlement date coupon rate Par value Payment frequency ACCRINT Formula 01/02/2017 01/08/2017 31/12/2018 0.08 2000 1 306.666666666667 =ACCRINT(L5,M5,N5,O5,P5,2) 01/03/2017 03/07/2017 31/07/2018 0.02 1580 1 44.7666666666667 =ACCRINT(L6,M6,N6,O6,P6,2) 20/07/2017 02/01/2018 01/04/2018 0.06 10000 2 418.333333333333 =ACCRINT(L7,M7,N7,O7,P7,2) 01/03/2018 07/03/2018 09/09/2018 0.09 25000 2 1175 =ACCRINT(L8,M8,N8,O8,P8,2)

#### Excel Function ACCRINTM

The ACCRINTM() function is similar to ACCRINT except that it calculates the interest at maturity.

There is no first interest date associated with this function.

 Issue Date Settlement date coupon rate Par value ACCRINTM Formula 01/02/2017 31/12/2018 0.08 2000 306.6667 =ACCRINTM(L17,M17,N17,O17) 01/03/2017 31/07/2018 0.02 1580 44.76667 =ACCRINTM(L18,M18,N18,O18) 20/07/2017 01/04/2018 0.06 10000 418.3333 =ACCRINTM(L19,M19,N19,O19) 01/03/2018 09/09/2018 0.09 25000 1175 =ACCRINTM(L20,M20,N20,O20)

#### Excel Function AMORDEGRC

The AMORDEGRC() function is used to calculate the linear depreciation of an asset for a given accounting period.

The calculation is linear and on prorated basis.

This function is often used in corporate financing where depreciation of buildings has to be included in the

asset accounting.

The function takes the following parameters.

cost of asset; date of purchase; first period; salvage amount; period of calculation; rate of depreciation; basis.

The last parameter basis is optional and specifies the financial day count to be used, with the default value being 0.

 cost of asset Purchase date 1st period date salvage period of calculation depreciation rate AMORDEGRC Formula 1000 01/01/2017 03/06/2017 20 1 0.2 332 =AMORDEGRC(L28,M28,N28,O28,P28,Q28) 1500 12/02/2017 02/07/2017 25 2 0.15 300 =AMORDEGRC(L29,M29,N29,O29,P29,Q29) 2450 22/03/2017 12/08/2017 38 1 0.1 553 =AMORDEGRC(L30,M30,N30,O30,P30,Q30) 5000 01/02/2016 12/12/2017 40 2 0.125 449 =AMORDEGRC(L31,M31,N31,O31,P31,Q31)

#### Excel Function AMORLINC

The AMORLINC() function is used to calculate the linear depreciation of an asset for a given accounting period.

The calculation is linear and on prorated basis.

The function takes the following parameters.

cost of asset; date of purchase; first period; salvage amount; period of calculation; rate of depreciation; basis.

The difference between this function and AMORDEGRC is that, in the latter, a hidden calculation is