# cdai

Accrued interest on certificate of deposit

## Syntax

```AccrInt = cdai(CouponRate, Settle, Maturity, IssueDate, Basis)
```

## Arguments

 `CouponRate` Annual interest rate in decimal. `Settle` Settlement date. `Settle` must be earlier than `Maturity`. `Maturity` Maturity date. `IssueDate` Issue date. `Basis` (Optional) Day-count basis of the instrument. 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/actual (ISDA)13 = BUS/252For more information, see basis.

Each required input must be some certificates of deposit (`NCDS`)-by-`1` or `1`-by-`NCDS` conforming vector or scalar. The optional `Basis` argument may be either a `NCDS`-by-`1` or a `1`-by-`NCDS` vector, a scalar, or the empty matrix (`[]`).

## Description

```AccrInt = cdai(CouponRate, Settle, Maturity, IssueDate, Basis)``` computes the accrued interest on a certificate of deposit.

`AccrInt` represents the accrued interest per \$100 of face value.

This function assumes that the certificates of deposit pay interest at maturity. Because of the simple interest treatment of these securities, the function is best used for short-term maturities (less than 1 year). The default simple interest calculation is the actual/360 convention (SIA).

## Examples

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### Find the Accrued Interest on a Certificate of Deposit

This example shows how to compute the accrued interest due, given a certificate of deposit with the following characteristics.

```CouponRate = 0.05; Settle = '02-Jan-02'; Maturity = '31-Mar-02'; IssueDate = '1-Oct-01'; AccrInt = cdai(CouponRate, Settle, Maturity, IssueDate) ```
```AccrInt = 1.2917 ```