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XLeratorDB/financial Documentation

SQL Server ACCRINT function


ACCRINT
 
Updated: 5 August 2010
Use ACCRINT to calculate the accrued interest for a security that pays periodic interest.
Syntax
SELECT [westclintech].[wct].[ACCRINT] (
   <@Issue, datetime,>
 ,<@First_interest, datetime,>
 ,<@Settlement, datetime,>
 ,<@Rate, float,>
 ,<@Par, float,>
 ,<@Frequency, float,>
 ,<@Basis, nvarchar(4000),>
 ,<@Calc_method, bit,>)
Arguments
@Issue
the issue date of the security. @Issue is an expression that returns a datetime or smalldatetime value, or a character string in date format. 
@First_interest
the first interest payment date of the security. @First_interest is an expression that returns a datetime or smalldatetime value, or a character string in date format. 
@Settlement
the settlement date occurring within the coupon period of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format.
@Rate
the coupon rate of the security expressed in decimal terms. @Rate is an expression of type float or of a type that can be implicitly converted to float.
@Par
the par value of the security. @Par is an expression of type float or of a type that can be implicitly converted to float.
@Frequency
the number of coupon payments per year. For annual payments, @Frequency = 1; for semi-annual, @Frequency = 2; for quarterly, @Frequency = 4; for monthly, @Frequency = 12. @Frequency is an expression of type float or of a type that can be implicitly converted to float.
@Basis
is the type of day count to use. @Basis is an expression of the character string data type category.
 
Basis
Day count basis
0 or omitted
US (NASD) 30/360
1
Actual/Actual
2
Actual/360
3
Actual/365
4
European 30/360
 
@Calc_method
@Calc_method is a logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first interest. A value of TRUE() returns the total accrued interest from issue to settlement. A value of FALSE() returns the accrued interest from first_interest to settlement. If @Calc_method is NULL it defaults to TRUE(). @Calc_method is an expression of type bit or of a type that can be implicitly converted to bit.
Return Type
float
Remarks

·         If @Frequency is any number other than 1, 2, 4, or 12, ACCRINT returns an error.

·         If @Basis < 0 or @Basis > 4, ACCRINT returns an error.
Examples
SELECT wct.ACCRINT('03/01/2008'
,'08/31/2008'
,'03/03/2008'
,0.1
,1000
,2
,0
,0)
Here is the result set
----------------------

0.555555555555556

See Also


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