How to calculate per day interest of a bond.

[ThrottleWorks]

How to calculate per day interest of a bond.


I want to calculate per day interest of a bond.

For example I am holding 1000 bond of xyz company, rate of interest is 10, issue date is 1st January 2012, day count is 30/360, frequency is annual.


Suppose if I want to calculate per day interest on this bond, what function I should used, I tried accrint but I am not sure where this is giving me correct result.


Can anyone help me in this please.

 

[Montrey]

If it compounds annually the interest would be =(.1/360)*1000

 

[Luke M]

Layout

Initial investment is in A2

Rate of Interest in A3

Day Count (30) in A4


=FV(A3/360,A4,0,-A2)

 

[ThrottleWorks]

Hi Montrey Sir & Luke Sir, thanks a lot for the help. Have a nice weekend ahead

 

[Luke M]

Glad to help, Sachin. You have a good weekend too!