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Finance[AccruedAmount] - calculate the accrued amount of a bond
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Calling Sequence
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AccruedAmount(bond, date)
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Parameters
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bond
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fixed- or floating-rate bond data structure; bond
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date
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a string containing a date specification in a format recognized by ParseDate or a date data structure; evaluation date
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Description
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The AccruedAmount command computes the interest that is due on a bond since the last interest payment was made. Accrued interest is added to the contract price of a bond transaction.
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The (optional) parameter date is the evaluation date. By default the global evaluation date is used. It can be specified in any of the standard date formats supported by the package.
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Note that the value returned by the AccruedAmount command depends on the day count and day rolling conventions used by bond.
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Compatibility
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The Finance[AccruedAmount] command was introduced in Maple 15.
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Examples
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![Settings([compounding = Continuous, settlementdays = 0, businessdayconvention = Unadjusted])](/support/helpjp/helpview.aspx?si=8823/file01569/math111.png)
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![[compounding = Continuous, settlementdays = 0, businessdayconvention = Unadjusted]](/support/helpjp/helpview.aspx?si=8823/file01569/math114.png)
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Consider a 3-year bond with face value of 100 that pays a fixed coupon of 3 percent issued on March 15, 2005.
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Here is the same bond but using the ISDA convention.
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Here is the interest accrued before the first coupon payment.
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Compare this to
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This shows the interest accrued right after the first coupon payment.
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Here is the interest accrued two months after the first coupon payment.
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Compare accrued interest and the difference between the clean price and the dirty price of a bond.
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See Also
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Finance[CleanPrice], Finance[DayCounter], Finance[DirtyPrice], Finance[EvaluationDate], Finance[FixedCouponBond], Finance[FloatingRateBond], Finance[FormatDate], Finance[ParseDate], Finance[Settings], Finance[YearFraction], Finance[YieldFromCleanPrice], Finance[YieldFromDirtyPrice], Finance[ZeroCouponBond]
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Download Help Document
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