# accrfrac

Fraction of coupon period before settlement

## Syntax

`Fraction = accrfrac(Settle, Maturity)Fraction = accrfrac(Settle, Maturity, Period, Basis,EndMonthRule, IssueDate, FirstCouponDate, LastCouponDate,StartDate)`

## Description

`Fraction = accrfrac(Settle, Maturity)` returns the fraction of the coupon period before settlement.

`Fraction = accrfrac(Settle, Maturity, Period, Basis,EndMonthRule, IssueDate, FirstCouponDate, LastCouponDate,StartDate)` returns the fraction of the coupon period before settlement with optional inputs.

Use `accrfrac` for computing accrued interest. `accrfrac` calculates accrued interest for bonds with regular or odd first or last coupon periods.

## Input Arguments

 `Settle` Settlement date. A vector of serial date numbers or date strings. `Settle` must be earlier than `Maturity`. `Maturity` Maturity date. A vector of serial date numbers or date strings. `Period` Coupons per year of the bond. A vector of integers. Values are `0`, `1`, `2`, `3`, `4`, `6`, and `12`. Default: `2` `Basis` Day-count basis of the instrument. A vector of integers. 0 = actual/actual (default)1 = 30/360 (SIA)2 = actual/3603 = actual/3654 = 30/360 (BMA)5 = 30/360 (ISDA)6 = 30/360 (European)7 = actual/365 (Japanese)8 = actual/actual (ICMA)9 = actual/360 (ICMA)10 = actual/365 (ICMA)11 = 30/360E (ICMA) 12 = actual/365 (ISDA)13 = BUS/252For more information, see basis. Default: `0` `EndMonthRule` End-of-month rule. A vector. This rule applies only when `Maturity` is an end-of-month date for a month having 30 or fewer days. 0 = ignore rule, meaning that a bond coupon payment date is always the same numerical day of the month. 1 = set rule on, meaning that a bond coupon payment date is always the last actual day of the month. Default: 1 `IssueDate` Issue date for a bond. `FirstCouponDate` Date when a bond makes its first coupon payment; used when bond has an irregular first coupon period. When `FirstCouponDate` and `LastCouponDate` are both specified, `FirstCouponDate` takes precedence in determining the coupon payment structure. Default: If you do not specify a `FirstCouponDate`, the cash flow payment dates are determined from other inputs. `LastCouponDate` Last coupon date of a bond before the maturity date; used when bond has an irregular last coupon period. In the absence of a specified `FirstCouponDate`, a specified `LastCouponDate` determines the coupon structure of the bond. The coupon structure of a bond is truncated at the `LastCouponDate`, regardless of where it falls, and is followed only by the bond's maturity cash flow date. Default: If you do not specify a `LastCouponDate`, the cash flow payment dates are determined from other inputs. `StartDate` Future implementation.

## Output Arguments

 `Fraction` `NBONDS`-by-`1` vector of accrued interest fractions.

## Examples

collapse all

### Find Accrued Interest for a Bond

This example shows how to find the accrued interest for given bond data.

```Settle = '14-Mar-1997'; Maturity = ['30-Nov-2000' '31-Dec-2000' '31-Jan-2001']; Period = 2; Basis = 0; EndMonthRule = 1; Fraction = accrfrac(Settle, Maturity, Period, Basis,... EndMonthRule) ```
```Fraction = 0.5714 0.4033 0.2320 ```

## See Also

#### Introduced before R2006a

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