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#1
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ACCRINT formula yields incorrect result
I applied the ACCRINT formula to a security with
maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
#2
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I'm using Excel XP on a Win2k PC & I get the results you seek.
What version are you using? "Onurali_k" wrote: I applied the ACCRINT formula to a security with maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
#3
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MS Excel 2000 9.0.6926 SP-3
"Duke Carey" wrote: I'm using Excel XP on a Win2k PC & I get the results you seek. What version are you using? "Onurali_k" wrote: I applied the ACCRINT formula to a security with maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
#4
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Meanwhile I checked the formula in another computer running Excel 2003 SP-1
and it gives the wrong result too. "Onurali_k" wrote: MS Excel 2000 9.0.6926 SP-3 "Duke Carey" wrote: I'm using Excel XP on a Win2k PC & I get the results you seek. What version are you using? "Onurali_k" wrote: I applied the ACCRINT formula to a security with maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
#5
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I just checked it on a PC with Excel 2000 and got your expected results.
Please double-check that your dates are actually 2005 dates, not 2004 dates "Onurali_k" wrote: Meanwhile I checked the formula in another computer running Excel 2003 SP-1 and it gives the wrong result too. "Onurali_k" wrote: MS Excel 2000 9.0.6926 SP-3 "Duke Carey" wrote: I'm using Excel XP on a Win2k PC & I get the results you seek. What version are you using? "Onurali_k" wrote: I applied the ACCRINT formula to a security with maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
#6
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Not that careless, they are 2005 dates. Can this be a Y2K problem?
"Duke Carey" wrote: I just checked it on a PC with Excel 2000 and got your expected results. Please double-check that your dates are actually 2005 dates, not 2004 dates "Onurali_k" wrote: Meanwhile I checked the formula in another computer running Excel 2003 SP-1 and it gives the wrong result too. "Onurali_k" wrote: MS Excel 2000 9.0.6926 SP-3 "Duke Carey" wrote: I'm using Excel XP on a Win2k PC & I get the results you seek. What version are you using? "Onurali_k" wrote: I applied the ACCRINT formula to a security with maturity: 09 Feb 2010 issue: 09 Feb 2005 (adjusted to exclude coupons already paid) first interest: 09 Feb 2005 settlement: 25 Mar 2005 coupon rate: 9.25% frequency: 1 basis: 1 (ACT/ACT) the formula should yield 9.25 x (25 Mar 2005 - 09 Feb 2005) / (09 Feb 2006 - 09 Feb 2005) = 9.25 x 44 / 365 = 1.1150685 but Excel calculates it as 1.112021858 upon exploration, I found out that it takes the day count of year as 366 mistakenly. Is there a solution for this bug? |
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