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ABC company issued a security with par value Rs. 50000 on 1/1/2013. The first interest date is 1-4-2013, the settlement date is 31-12-2015 an the annual coupon rate is 6%. The security’s payments are made quarterly, and a US (NASD) 30/360 day count basis is used. Use ACCRINT() function to calculated the accrued interest of a security that pays periodic interest.

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Best answer

Procedure: 

Step 1 – Open a blank new worksheet in LibreOffice Calc.

Step 2 – Enter the data in the following cells.

A B
1 Particulars Values
2 Date of issue 01-01-2013
3 First interest date 01-04-2013
4 Settlement date 31-12-2015
5 Annual coupon Rate 6 %
6 Per value of the security 50000
7 Frequency of interest (Quarterly) 4
8 Day count basis(30/360) 0
9 Accrued interest

Step 3 – Enter the formula in B9 = ACCRINT (B2, B3, B4, B5, B6, B7, B8) 

Output:

Accrued interest 9000

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